EVN has signed a 2.5 trillion dong contract with the Viet Nam Development Bank (VDB) to develop the Vinh Tan 2 and Duyen Hai 1 thermal power plants. The two plants, which will have a combined capacity of 2,400 MW, will entail a total investment of over 52.7 trillion dong. As of end-2012, VDB has financed over 80 of EVN’s power supply and grid projects at a total registered funding value of about 36.9 trillion dong. Some of the major projects financed by VDB are the Son La, Lai Chau, Huoi Quang, and Ban Chat hydroelectric plants. In fact, about 39 per cent of the bank’s total outstanding loans have been allocated to power projects; of this amount, 45.6 per cent has been committed to EVN’s projects.
