Vietnam Electricity Group Secures Financing from Four State-Owned Banks for Quang Trach II LNG Power Plant

Recently, Vietnam Electricity Group (EVN) signed loan agreements with four state-owned banks, successfully securing financing for its Quang Trach II Liquefied Natural Gas (LNG) power plant project in Quang Tri province. The project has a total installed capacity of 1500 MW and will utilize combined-cycle gas turbine technology.

According to the agreements, the banks providing financing include Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), and Vietnam Bank for Agriculture and Rural Development (Agribank). The total project investment is approximately 1.8 billion euros, with a funding structure of 20% equity and 80% bank loans. The project mainly consists of two parts: a power plant valued at 1.4 billion euros, and an LNG receiving terminal and port facilities valued at 400 million euros. The project is scheduled to commence commercial operation between 2028 and 2029, with full completion expected in 2030.