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JBIC lends $636m to Vietnam coal power project

2021-01-13 14:06:51   【Print】
The Japan Bank for International Cooperation (JBIC) has agreed to lend $636 million to Vung Ang 2 Thermal Power Limited Liability Company (VAPCO) for financing the construction of a coal fired power plant in Vietnam.

The loan will be co-financed with the Export-Import Bank of Korea (KEXIM) and private lenders, with the total co-financing amount estimated $1.8 billion.Asian Metal Copyright8 billion.Asian Metal Copyright JBIC will provide the money through JBIC's Growth Investment Facility, which aims to provide support for Japanese firms in oversea merger and acquisitions and infrastructure investment.

VAPCO will build, own and operate a coal-fired power plant with 1,200 megawatts (MW) capacity installed in the Vung Ang district, Ha Tih province in Vietnam. Electricity generated by the plant will be sold to Vietnam's state-owned company Vietnam Electricity (EVN) for 25 years, a statement said.

.Asian Metal Copyright8 billion.Asian Metal Copyright