To assist finance with the construction of a thermal power
station in Vietnam, the Export-Import Bank of China (Eximbank) said
Tuesday it had signed an agreement to provide a US$147 million loan
for the project. ?
The power station, to be operated by the Vietnam Coal and
Minerals Group, is a major project in the Asian country's power
generation development plan for 2006-2010.
The project will have two generating units each with a capacity
of 110 megawatts. At a cost of US$212 million the power station is
expected to be operational by 2008.
China's Shanghai SFECO group won the contract to build the main
part of the power station at a cost of US$173 million.
Eximbank, a major government-owned policy bank in China, has
been actively involved in helping Chinese contractors to compete in
the international market.
According to the bank, it has so far provided US$1 billion in
buyers' credit loans to foreign power station projects built by
Chinese contractors.
(Xinhua News Agency May 10, 2006)