Electricity of Vietnam (EVN) has signed capital contribution contracts and credit agreements worth VND4.5 trillion (USD225 billion) with several banks for the expanded Duyen Hai 3 thermo-power project.

The banks include the Vietnam Bank for Industry and Trade (Vietinbank), Vietnam Bank for Foreign Trade (Vietcombank) and Bank for Investment and Development of Vietnam (BIDV).

Meanwhile, the project is expected to boost socio-economic development in the Mekong Delta region by resolving electricity shortages during the dry season, he added.

Total investment for the project is VND22.77 trillion (roughly USD1.82 billion ), 85 percent of which are from commercial loans. The project, approved by the Prime Minister on December 11th, 2013, is crucial in supplying power for the southern region by 2018.

Located in Duyen Hai district in Tra Vinh province, Duyen Hai 3 is one of four thermo-power projects run by the Duyen Hai Power Centre with a total capacity of 4,348 megawatts. It is expected to generate 3.9 billion kilowatt hours per year./.

( Compiled by VNF )