PM agrees guarantee to foreign loans for some power plants

VNGOP – PM Nguyễn Tấn Dũng approved on September 11 the letters of guarantee for foreign loans of the Projects Hải Phòng Thermoelectricity Plant 2 and Sê San Hydroelectricity Plant 4.

September 13, 2007 7:23 AM GMT+7

The signing of the official bidding package for the Hải Phòng Thermoelectricity Plant 2- Illustration photo

The PM allows the Ministry of Finance to act on behalf of the Government in signing the letters of guarantee for the lending contracts with Societe Generale Bank on the Sê San Hydroelectricity Plant 4; and with China EximBank and JBIC on the Hải Phòng Thermoelectricity Plant 2.

The guarantee fee is 0.25% per annum of the debt surplus of the guaranteed loans.

The Sê San Hydroelectricity Plant 4 is located in Yagrai District, Gia Lai Province and Sa Thầy District, Kom Tum Province. The 360MW plant requires a total investment capital of VND 5,546 billion.

The Hải Phòng Thermoelectricity Plant 2 with the capacity of 2x300 MW is worth of US$ 623.6 million. This is a coal-fuelled power plant equipped with modern environmentally-friendly technologies.

By Nguyên Hồ