Signing ceremony of credit contract to finance Nam Ban 3 hydropower project in Lai Chau
05/07/2024 12:07
On June 26, 2024, in Lai Chau city, Viet Nam Development Bank (DB) area branch of Dien Bien - Lai Chau has held a signing ceremony for VND 68 billion State investment credit contract to finance Nam Ban 3 Hydropower project whose owner is the Nam Ban 3 Power Development Investment Ltd Company.
Being started in 2015 and classified as third level, belonging to the group B, this project located in Nam Nhun district - Lai Chau province had 2 turbines with a production capacity of 22 MW. funded by VDB with total amount of VND530 billion of which VND430 billion from state investment credit capital, remaining from loan made under scheme of on lending foreign loan (JICA) with credit risk taken by VDB, the project has been in operation, stably generating electricity to the national grid since early March 2021, providing with an average annual electricity output of about 84 million kWh.
To support project owner completely pay the contractors, VDB has approved an additional loan of VND68 billion with term of 11 years and 06 months. VDB’s funding has made the project an effective one, contributing to promoting socio-economic development, improving the environment in residential areas and preventing floods for the downstream area, increasing revenue for local budget./.