Project

Staff Reporter

, Vietnam

Published:

13 years ago

Credit Agricole extends US$178M power plant loan

Credit Agricole Corp. and Investment Bank on Wednesday signed a US$178 million credit contract with Dakdrinh Hydropower Joint Stock Co. to ensure 80% capital for the hydropower project.

The lender is the single capital investor in the project and the 13-year loan is guaranteed by Vietnam’s Finance Ministry.

The hydropower project is under construction in Quang Ngai Province’s Son Tay District and KongPlong District in Kon Tum

Province. The 125-megawatt power plant is the biggest on the Tra Khuc River and is expected to generate electricity from late 2013.

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