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Home / Economy / Industry
Japanese banks finance Vietnamese power plant
12:50, 2015/04/04
Eleven Japanese banks, including Mitsui Sumitomo Banking Corp and Japan Bank for International Cooperation (JBIC), will provide a 81 billion JPY (680 million USD) loan for the Electricity of Vietnam (EVN) to build a thermal power plant.
Accordingly, JBIC will supply the majority of the loan with more than 400 million USD while 8 regional banks will lend a combined 100 million USD. 
 
The Mao Khe thermal power plant
The Mao Khe thermal power plant
The EVN will use the funds to purchase power-generating equipment from Japan’s Hitachi Company. 
Vietnam’s economic growth is driving electricity demand, making power shortages an urgent concern. 
In order to create a favourable environment to attract more foreign investment, the Vietnamese government is hastening the construction of power plants.
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