EVN signs loan agreement with Big Four banks for LNG power project
Vietnam Electricity (EVN) has signed the loan agreement for Sub-project 1 of the LNG Quang Trach II Power Plant project with four major banks, with the total value amounting to VND29.57 trillion (US$1.14 billion).
The consortium of the banks comprises Vietcombank, VietinBank, BIDV and Agribank.
The project has a capacity of 1,500 MW, consisting of two units of 750 MW each. The plant is being built at Hon La Economic Zone, Phu Trach commune, Quang Tri province.
It is invested by EVN, with a total investment of more than VND52.49 trillion, of which 20% is equity and 80% commercial loans.
The project is divided into two subprojects. Subproject 1 – the power plant – has a total investment of VND40.1 trillion, while Subproject 2 comprises the LNG storage facility and port, with an estimated investment of about VND11.8 trillion.
Subproject 1 involves the construction of a 1,500 MW power plant, including combined-cycle gas turbine units and synchronised auxiliary systems such as water supply and treatment systems, wastewater treatment, electrical systems, and measurement and control systems.
EVN Chairman Dang Hoang An said that Vietnam’s power sector currently ranked second in Southeast Asia and 20th globally in terms of scale.
With the goal of achieving double-digit economic growth, investment demand for the power sector from now to 2030 was expected to increase sharply, he said.
Policies and mechanisms needed for LNG power development
VOV.VN - The development of thermal power, including natural gas and liquefied natural gas (LNG), requires specific policies and mechanisms aimed at attracting investment as this industry plays a crucial role in ensuring the supply of electricity for the economy whilst promoting the energy transition, according to insiders.
