Tan Tao Group has signed a contract selecting Standard Chartered Bank to become a consultant to arrange finance for Kien Luong 1 Thermal Power Plant
On December 23 2009, Tan Tao Group has signed a contract selecting Standard Chartered Bank to become a consultant to arrange finance for Kien Luong 1 Thermal Power Plant.
To:- THE STATE SECURITIES COMMISSION
- HO CHI MINH CITY STOCK EXCHANGE
1. Name of listed organization: Tan Tao Investment & Industry Corporation
2. Trading name: ITACO
3. Listing code: ITA
4. Content:
Tan Tao Group has signed a contract selecting Standard Chartered Bank to become a consultant to arrange finance for Kien Luong 1 Thermal Power Plant. In the recent two years, Standard Charted have succeeded in arranging loans for two thermal power projects in Indonesia and Philippines, which have been developed for the first time by the owners in electricity sector. Therefore, Standard Chartered agreeing to become a consultant to arrange finance for Kien Luong 1 Power Plant together with the Vietnam Government‘s approval for loan guarantee have ensured the feasibility of the project.
Currently, Tan Tao Group and its engineering consultant, Mott MacDonald, have been evaluating the EPC bids.
Compensation and site clearance: ITACO have completed 75% of the total compensation area for the whole three phases of Kien Luong Power Center. The entire area for the first phase has been compensated and cleared and ITACO is swiftly building infrastructure including electricity, water systems, traffic, grading and reclamation....ITACO is projected to deliver the land to EPC contractor in the second quarter of 2010 to start construction of the plant and to perform the schedule already committed with the Government in December of 2013.
We are committed to be responsible to the law for this released information.
PRESIDENT
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