Vietnam banks to finance 170-MW ALuoi

Central Hydropower Joint Stock Co. signed a credit contract June 29 with the Bank for Agriculture and Rural Development to obtain 1.2 trillion dong (US$74.6 million) for construction of the 170-MW ALuoi hydroelectric project.

State-run Vietnam News Agency said the bank is lead agency for three other co-creditors, Vietnam-Thailand Joint Venture Bank, An Binh Joint Stock Commercial Bank, and Rubber Financing Co.

The credit has a 12-year term and a three-year grace period to help finance a third of the 3.2 trillion dong (US$198.9 million) project.

Major shareholders in ALuoi are Electricity of Vietnam, Hanoi Power Co., Power No. 2 Co., and Power No. 3 Co. (HNN 8/16/06) Upon completion in A Luoi District of Vietnam’s Thua Thien Hue Province, the project is to produce 686.5 million kWh annually.

In 2006, Central Hydropower Joint Stock Co. awarded a contract to Cavico Corp. for service road work at the project.

Chinese firm signed to equip Vietnam’s 220-MW Srepok 3

Electricity of Vietnam (EVN) signed a US$40.17 million contract June 20 to purchase equipment from a Chinese company for the 220-MW Srepok 3 hydroelectric project.

Vietnam News Agency said China National Technical Export and Import Corp. is to supply two turbine-generators, auxiliary equipment, a 220-kV distribution station, and all control and protective equipment.

VINAVICO, an affiliate of hydro plant builder Cavico Corp., began construction preparations for the project a year ago. (HNN 7/19/06) VINAVICO is building the dam and pressure shafts, under an 810 billion dong (US$54 million) contract, for Srepok 3 (also spelled Serepok or Sre Prok) northwest of Dalat.

BQLDA (Project Management Unit No. V) is the main contractor for the project, which is owned by EVN. The project is to be completed in 2010 for a total investment of 3,168 billion dong (US$211 million).

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