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Banks provide loans for northern hydro-electric power plant   2009-04-16 - VOV

Four domestic commercial banks and the Electricity of Vietnam (EVN) on April 15 signed a contract to provide VND2.6 trillion in loans for the Ban Chat hydro-electric power project in the northern province of Lai Chau.

The loan providers included the Bank for Agriculture and Rural Development of Vietnam (Agribank), the Bank for Investment and Development of Vietnam (BIDV), the Bank for Foreign Trade of Vietnam (Vietcombank), and the Global Petro Commercial Joint-stock Bank.

Of the total amount, Agribank has committed VND1.46 trillion with a 13-year maturity and a 3-year grace period.

The 220 MW Ban Chat project is being built at a cost of more than 8.6 trillion VND on the Nam Mu river.

Once operational in 2012, the plan will supply 1.3 billion kWh to the national grid each year, and help regulate water flows for the lowlands.

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