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An US$ 245 million credit for power transmission projects

An US$ 245 million credit for power transmission projects - 

On December 5, Vietnam Citibank successfully arranged an US$ 245 million long-term (13 years)  export credit for National Power Transmission Corporation (EVNNPT). The credit is guaranteed by the Vietnamese Ministry of Finance and insured by the Japanese Export Credit and Investment  Insurance Agency (NEXI). This is a second credit  insured by NEXI for EVN NPT in Vietnam.

In this credit, Citibank plays a role as the whole coordinator – a banking agency and, at the same time, a main co-arranger with Sumitomo Mitsui Trust Bank Limited, Singapore Branch (SMTB).

Mr. Dang Phan Tuong - Chairman of the EVN NPT Member Council

Mr. Dang Phan Tuong - Chairman of the EVN NPT Member Council said, this loan will be used to finance the construction of four power transmission projects such as 500 kV transmission line Duyen Hai – My Tho; 220 kV transmission lines: Long Phu - Soc Trang, Long Phu - Can Tho – Tra Noc and 220kV transformer substation Can Tho. These 4 projects will transmit electricity from Long Phu and Duyen Hai Power Centers to industrial zones in Soc Trang, Hau Giang provinces and Can Tho, Ho Chi Minh cities as well.

With an investment value annually from 15,000 to 18,000 billions dong up to 2020, EVNNPT is actively mobilizing many different funds as ODA, foreign privilege, export credit and domestic commercial loan to meet the investment demand for the National Power Transmission System development, in which Citibank is the whole coordinating bank, loan co-arranger and co-financer, Mr. Dang Phan Tuong said.

VietnamEnergy.vn

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