A $257 million loan package secured for Genco1’s port

August 01, 2015 | 17:19

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Power Generation Company 1 under Electricity of Vietnam (EVN Genco 1) on July 31 signed an agreement with Vietcombank, Vietinbank, BIDV and Agribank to borrow VND5.5 trillion ($257 million) to build a port in the Duyen Hai Power Centre.

The deep water port, to be located in Dan Thanh commune in Duyen Hai district in the southern province of Tra Vinh, is going to receive fuel for power production in the centre. It can receive 12 million tonnes of coal per year and 1,000 DWT of oil to be used to run the power plants in the centre.

The project to build the port is part of the National Power Development Master Plan for the 2011-2020 period ratified in 2011 by the prime minister. Investment was estimated at VND10.8 trillion ($504 million). Construction started in December 2012 and is expected to finish in December 2015.

Covering an area of 878.91 hecatares, the Duyen Hai Power Centre comprises four coal-fired thermal power plants that use traditional steam-condensed turbine technology. The centre has capacity of 4,308MW and the estimated investment capital of $5 billion.

By By Khanh Tran

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