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ODA loan Agreement for Thai Binh Thermal Power Plant ratified

ODA loan Agreement for Thai Binh Thermal Power Plant ratified - 

The PM has approved the Official Development Assistance (ODA) loan Agreement between the Vietnamese Government and the Japan International Cooperation Agency (JICA) for Thai Binh Thermal Power Plant and Transmission Lines Construction Project (IV).

The Ministry of Finance is authorized to sign the Agreement with the Japanese side.

This project will construct a 600-megawatt coal-fired thermal power plant that uses locally produced coal and also construct 220-kilovolt transmission lines in Thai Binh Province in northern Viet Nam, in order to meet the power demand in the region.

In addition to curbing fuel costs, this will reduce the power loss that occurs with long-distance power transmission and increase the power supply efficiency, alleviating the strained power supply and demand balance, and promoting economic growth and international competitiveness in Viet Nam.

The project will also lower the high dependency on hydroelectric power, currently at 50.2%, providing power stability to Viet Nam overall by avoiding the reduction in power supply that occurs in the dry season when less water is available for producing hydroelectric power./.

Source: VEN/VGP

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