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ADB finances Thermoelectricity Plant Mông Dương 1

VNGOP – The State Bank of Việt Nam and the Asia Development Bank (ADB) signed a framework financing agreement for the thermal power project Mông Dương 1 on October 09 in Hà Nội.

10/10/2007 07:05
Photo: VNGOP
Under the framework agreement, the loan worth of US $931 million from ADB to Mông Dương 1 will be granted in two phases. The first loan of US $28 million was signed on the day. ADB plans to sign the second loan of US $903 million within the next two years.
Thermoelectricity Plant Mông Dương 1 invested by the Electricity of Việt Nam (EVN) is a part of the overall planning scheme of the 2,200 MW Mông Dương Power Center.
The 1,000 MW plant requires a total investment of US $1.1 billion. After coming into operation in June 2012, the plant is expected to increase the percentage of thermoelectricity and minimize Việt Nam’s dependence on hydro power, contributing to the power supply in dry season and the national economic development.
By Hoàng Phương