Tan Tao Energy Corporation works with China Exim Bank to arrange loans for Kien Luong thermal power project
April 19, 2010, at the Tan Tao Energy Corporation (TEC) head office, Chairwoman Dang Thi Hoang Yen had a working session with Mr. Liu Zhenggui, Deputy President of petroleum and electrics of China Exim Bank.
At the meeting, China Exim Bank’s representative expressed its interest to arrange loans to finance the phase-one Kien Luong thermal power project with capacity of 1,200 MW. He said that China Exim Bank would want to arrange 100% loan capital for Kien Luong power project. The Chairwoman Dang Thi Hoang Yen appreciated Liu Zhenggui ‘s goodwill. Besides, TEC has also received proposals from other banks to arrange loans for the project. Therefore, TEC will consider to select the best bank satisfying the requirements of the project.
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Presently, the EPC contractor for Kien Luong thermal project has already been selected. Tan Tao Group has completed the land compensation and the payment of land use fee and has obtained the land use right certificate. The investment license for the project was also obtained in July of 2009. TEC is currently stepping up the technical infrastructure investment, land leveling, construction of water and electrics works and roads. The technical infrastructure construction is expected to be completed in the third quarter of 2010 to deliver the site to the EPC contractor for construction of Kien Luong 1 project.
ItaExpress
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