JBIC signs deal to finance coal-fired power project in Vietnam

The Japan Bank for International Cooperation has signed a loan agreement with Vung Ang 2 Thermal Power Limited Liability Company (VAPCO) for the construction of a coal-fired power plant in Vietnam. …

The project financing amounting to $636 million is being provided under JBIC’s growth investment facility. The loan is co-financed with private financial institutions as well as the Export-Import Bank of Korea (KEXIM). The total co-financing amount is $1.767 billion. VAPCO will build, own, and operate an ultra-supercritical coal-fired power plant with an installed capacity of 1,200 MW (two units of 600MW each) in the Vung Ang district, Ha Tinh province in central Vietnam. The electricity generated from the plant will be sold to Vietnam Electricity (EVN) for 25 years.

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