Vietnam Electricity (EVN) officially signed a loan agreement for "Component Project 1 – Power Plant" of the Quang Trach II LNG Thermal Power Project on January 16.
The loan is provided by a consortium of four state-owned commercial banks of Vietcombank, VietinBank, BIDV, and Agribank, with Vietcombank serving as the lead bank.
The Quang Trach II Liquefied Natural Gas (LNG) Thermal Power Plant consists of two units with a total capacity of 1,500 MW. Utilizing advanced combined-cycle gas turbine (CCGT) technology, the plant is located in the Hon La Economic Zone, Phu Trach Commune, Quang Tri Province.
EVN serves as the project developer with a total investment exceeding VND52.49 trillion (nearly $2 billion). The capital structure is comprised of 20% equity and 80% commercial loans. The overall development is divided into two sub-projects: Componnent project 1 (the power plant) with a total investment of VND40.1 trillion (over $1.5 billion), and Component project 2 (LNG Terminal and port) wiht estimated investment of VND11.8 trillion ($449 million).
The primary objective of Component project 1 is the construction of a 1,500 MW power generation facility. This includes the main combined-cycle gas turbine units and a comprehensive suite of auxiliary systems, such as water supply and treatment, wastewater treatment, electrical systems, and integrated measurement and control systems.
To ensure the project's progress, EVN has simultaneously executed various preparatory phases, with securing capital being a top priority. The total loan amount signed for Component Project 1 of the Quang Trach II LNG Thermal Power Plant stands at VND29.568 trillion (over $1.12 billion).
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