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Thai Binh power plan gets credit

Aug 24th at 16:32
24-08-2013 16:32:38+07:00

Thai Binh power plan gets credit

The Viet Nam National Oil and Gas Group (PetroVietnam) and its Japanese partners signed an export credit agreement worth US$141 million in Ha Noi on Thursday.

The agreement aims to help PetroVietnam purchase equipment for the Thai Binh 2 Thermal Power Plant Project. The credit is funded by the Japan Bank for International Cooperation (JBIC), the Bank of Tokyo-based Mitsubishi UFJ (BTMU), Citibank and Mizuho Corporate Bank.

The money will be allocated to buy steam turbines and other machinery, provided by the Japan-based Sojitz Corporation.

The Thai Binh 2 power plant project, which is being built in Thai Thuy district of the Red River Delta province of Thai Binh, demonstrates the determination of PetroVietnam to meet rising domestic demand for electricity.

The company wants to help ensure a stable electricity supply which serves the country's economic development and supports the business activities of Japanese enterprises in Viet Nam.

vietnamnews

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