Banks co-finance 821 billion VND to hydropower plant

15/01/2008 -- 8:41 PM

Gia Lai (VNA) – Six branches of the Bank for Investment and Development of Viet Nam (BIDV) and the Viet Nam-Russia Joint Venture Bank (VRB) will provide 821 billion VND (over 51 million USD) for the construction of the Se San 4A Hydropower Plant in the Central Highlands province of Gia Lai . A contract to this effect was signed in Gia Lai province on January 15, under which BIDV Gia Lai commits 446 billion VND (or 52 percent) of the total contract value. The Se San 4A Hydropower Plant has a total investment capital of nearly 1.2 trillion VND (75 million USD) and is designed to have three turbines with a combined capacity of 63 MW. The plant will be constructed in 36 months with the first turbine scheduled for completion in July 2010, the second in October and the third in December the same year. Once operational in 2011, the plant is expected to generate 308 million kWh of electricity per year.-Enditem
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