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Finance Ministry submits to Government credit guarantee application for Kien Luong thermal power plant stage one and Nam Du Port invested by ITA Group

Consulting units and strategic partners of the ITA Group attend the EPC Bidding Opening for EPC 1,200 MW capacity Kien Luong Thermo Power Plant stage one.

On December 16, 2008, the Finance Ministry sent the Document No.15339/BTC-TCDN of credit guarantee for the 2x600 MW Kien Luong Thermal Power Plant to the Government Office to express its opinions on the recommendations of the Tan Tao Investment & Industry Corporation. The Document No.556/CV-03 dated November 1, 2008 concerning the foreign loan guarantee to invest in the Kien Luong 1 Thermal Power Plant and Nam Du Port.

Regarding the guarantee policy for the Kien Luong Thermo Power Center, the Finance Ministry has stated that the Kien Luong Coal Thermal Power Plant (stage one) in Kien Giang province is a power source investment project under the National Power Development Master Plan, for years 2006-2015 and possibly up to 2025.

The Prime Minister has approved the Tan Tao Investment & Industry Corporation to invest in the principle of the Kien Luong 1 Thermal Power Plant and Nam Du Deep Water Port for coal transportation to Kien Luong Thermo Power Center.

Accordingly, the 2x600 MW capacity Kien Luong 1 Thermal Power Plant is applied to article 3 of the decision No.110/2007/QD-TTg dated July 18, 2007 by the Prime Minister, which stipulates that the projects of power sources and also connection lines to the national power grid for the years 2006-2015 invested by domestic enterprises are applied according to the Decision No.1195/QD-TTg dated November 9, 2005 by the Prime Minister. The loan guarantee for the implementation of the Nam Du Deep Water Port‘s will be considered as a whole in the Kien Luong 1 Thermal Power Plant project.

Arising from real situations in the national power grid, the Finance Ministry sent the proposal to the Government Office to submit to the Prime Minister for the approval of the government guarantee issuance of the Kien Luong 1 Thermal Power Plant, and assigning the Finance Ministry to coordinate with the main investor to accomplish the documents, appraise the project to submit in detail to the Prime Minister according to the regulations on issuance and management of the government guarantee enactment, enclosed with the Decision No.272/2006/QD-TTg dated November 28, 2006 by the Prime Minister.

ItaExpress