Vietnam's EVN secures $1.13 billion loan for LNG power plant project

The loan is provided by four of Vietnam's top banks, including Vietcombank, VietinBank, BIDV and Agribank, EVN said in a statement.

The Southeast Asian country is seeking to ramp up its power generation capacity to keep up with its expanding economy, which grew 8% last year.

The loan will cover around 56% of the funding needed for the 1,500-megawatt Quang Trach II power plant to be built in the central province of Quang Tri, EVN said.

The plant is scheduled to be fully operational by 2030.

($1 = 26,235 dong)