Foreign banks offer syndicate loan for power plant

11/07/2008 -- 10:33 PM

Hanoi (VNA) – Three foreign banks will provide a syndicate loan of more than 216 million USD for the Vietnam National Oil and Gas Group’s (PetroVietnam) Ca Mau Power Plant II. A credit contract was signed in Hanoi on July 11 by PetroVietnam and the three banks, Calyon of France, kfW of Germany and Fortis of Belgium and the Netherlands. The 750-MW Ca Mau Power Plant II, part of the Ca Mau Gas-Power-Fertiliser Complex in the southernmost province of Ca Mau , has a total investment of 430 million USD. When it becomes operational this year, the plant will partly satisfy the increasing demand for power in the country which is currently facing a shortage.-Enditem
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