(VOV) -Lien Viet Post Joint Stock Commercial Bank (LienVietPostBank) has approved a credit package worth US$193.66 million for the expansion of the Xekaman 1 hydropower plant in Laos.
The decision makes the loan, with repayment term of 14 years, one of the largest ever granted by the bank.
Additionally, the bank of Nomura Singapore Special Investments Pte Ltd has agreed to provide US$50 million of funding for the project.
The Xekaman 1 hydropower plant project, principally invested by Viet-Lao Power Joint Stock Company (VLPC), is part of an energy cooperation programme between the Vietnamese and Lao governments.
The project is of great economic, political and cultural significance and plays a critically vital role in providing electricity to the two countries.
Construction of the plant began in March 2011 and is expected to be completed in 2016.
Once operational, the plant will have a combined capacity of 322MW and generate 1.218 billion KWh, 80% of which is exported to Vietnam.
Đăng ký: VietNam News