Japanese banks finance Vietnamese power plant
Eleven Japanese banks, including Mitsui Sumitomo Banking Corp and Japan Bank for International Cooperation (JBIC), will provide a JPY81 billion (US$680 million) loan for the Electricity of Vietnam (EVN) to build a thermal power plant.
Accordingly, JBIC will supply the majority of the loan with more than US$400 million while 8 regional banks will lend a combined US$100 million.
The EVN will use the funds to purchase power-generating equipment from Japan ’s Hitachi Company.
Vietnam ’s economic growth is driving electricity demand, making power shortages an urgent concern.
In order to create a favourable environment to attract more foreign investment, the Vietnamese government is hastening the construction of power plants.
The EVN will use the funds to purchase power-generating equipment from Japan ’s Hitachi Company.
Vietnam ’s economic growth is driving electricity demand, making power shortages an urgent concern.
In order to create a favourable environment to attract more foreign investment, the Vietnamese government is hastening the construction of power plants.