The Vietnam Development Bank branch of Lao Cai and VIDIFI energy invesment joint stock Company on January 8th, 2015 signed a credit contract to provide loan for the Suoi chan 2 hydropower project.

With the term of 12 years, the VND 250 billion loan combining VND150 billion state investment credit and VND100 billion from JICA is for the construction cost and purchase of equipments for the plant. Located in Van Ban District, Lao Cai Province, the project has two turbins with designed capacity of 14 MW, its total investment not including tax is VND360 billion.
The project preconstruction as well as supportives items have been completed so far. Main components of the project will be implemented in the first quarter of 2015 and expected to be finished and in operation since the fourth quarter of the following year. After completion, the plant will add the national power grid about 56 million KW per year, contribute about VND10 billion to the state budget and make its part to ensure national energy security and local socio-economic development./.