PetroVietnma signs deals with Citibank and ING to fund power plant in Vietnam

The PetroVietnam Power Corporation has signed a deal with a consortium of Citibank and ING Bank to arrange funds for the construction of the 1,500 MW Nhon Trach 3 and 4 gas-based plants in Dong Nai province, southern Vietnam. The plants entail a cumulative investment of $1.4 billion and are scheduled to start commercial operations from the fourth quarter of 2022. The new plants will run on imported liquefied natural gas. The project is an extension of the 1,200 MW Nhon Trach 1 and 2 plants fired by locally produced natural gas.

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