Government guarantee issued for Vinh Tan 4 power plant expansion project

11:32 | 21/07/2018 Industry

The Prime Minister recently decided to add the Vinh Tan 4 Thermal Power Plant Expansion project to the list of priority projects subject to consideration for the issuance of government guarantees in 2018.

The Vinh Tan 4 Thermal Power Plant Expansion project

The Government leader also decided to increase the limit of foreign loan guarantees by an additional US$160 million for investment projects in 2018, while approving the contents of the letters of guarantee and assigning the Ministry of Finance, on behalf of the Government, to sign guarantee letters for the JBIC/NEXI export credit contact loan agreement.

The PM told the Ministry of Justice to issue a legal opinion on the letter of guarantee and the guarantor, assigning Electricity of Vietnam (EVN) to take charge of effectively implementing the project in accordance with the scheduled progress and to fully allocate equity in line with the annual progress of the project.

The Vinh Tan 4 Thermal Power Plant Expansion project will cost roughly VND23.9 trillion (US$1.05 billion) in total, featuring one turbine with a 600MW capacity and generating an annual output of around 3.9 billion kWh.

Scheduled to be put into formal operation in late 2019, the extended plant will contribute significantly to ensuring the supply of power in service of socio-economic development in the South Central region, while enhancing the level of trust, stability and economic operation of the national power system.

Theo NDO