Vinacomin succeeds in arranging $200m for Dong Nai 5 hydropower plant

November 25, 2011

Vinacomin – Power Corp and Japan-based Sumitomo Mitsui Banking Corporation (SMBC) on November 17 successfully arranged capital for Dong Nai 5 hydropower plant.

The loan contract worth $200 million with duration of 14 years is the first loan of Vinacomin – Power Corp being arranged under the unbounded credit insurance program of Nippon Export and Investment Insurance (NEXI).

Together with SMBC, some other banks also joined this contract namely Australia and New Zealand (ANZ) Bank and Deutsche Bank. Earlier, the credit contract was signed on September 28, 2011 by parties.

Dong Nai 5 hydropower plant project is invested by Vietnam National Coal and Mineral Industries Group (Vinacomin) with a total investment of 5.2 trillion dong. The project includes two generators with an estimated capacity of 150 MW and is expected to be kicked off construction by the end of 2011.

Dong Nai 5 hydropower plant project is also part of Power Scheme VI of the government.

Source: http://businesstimes.com.vn/vinacomin-succeeds-in-arranging-200m-for-dong-nai-5-hydropower-plant/

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