Japan’s Sumitomo Mitsui Banking Corporation (SMBC) will provide a US$64.2 million credit to fund the Srepok 4A hydropower plant project in Dak Lak province.
A credit contract was signed in Hanoi on March 15 between the Buon Don Hydro Power Joint Stock Company and SMBC.
The loan was financed under the trade and investment insurance program of Nippon Export and Investment Insurance (NEXI) with the sponsorship of the Vietnamese government. SMBC is the major bank to arrange the loan, while EVN Finance is a consulting unit to provide capital to the Buon Don Hydro Power JSC.
While negotiating the credit contract with SMBC, EVN Finance and Saigon - Hanoi Commercial Joint Stock Bank (SHB) provided a loan to Buon Don Hydro Power JSC to ensure the progress of the project.
The Srepok 4A hydropower plant has a design capacity of 64MW and is scheduled for completion in 2013. When operational, it will supply around 308.35 million kWh a year to the national power grid, contributing to promoting economic development in the central and Central Highlands regions.
