Nov 24, 2011

Russia - Russia funds $9b to build nuclear power plant in Vietnam



Russian government agreed to lend Vietnam to build first nuclear power plant in Ninh Thuan province, so called Ninh Thuan 1, according to local newswire DVT.

Phan Minh Tuan, Director of EVN’s Nuclear Electricity and Renewable Energy Project Investment Preparation Unit said that the loan is around $8-9 billion depending on material prices at the starting time of construction work.

The mature of this loan will be 28 years, Tuan said without revealing about the interest rate of loan. As planned, the first money amount will be disbursed in 2014.

Ninh Thuan 1 has a designed capacity of 2,000 MW. The work is expected to begin by 2014, Mr Tuan added.

Also, Russia will fund feasibility study for the project in 2 years.

As posted in the Vietnamese government website yesterday [22 November], Vietnam and Russia targeted to reach bilateral trade of $5 billion in 2015.

Apart from Ninh Thuan 1 plant, the Electricity of Vietnam (EVN) planned to build the second one with Japanese aid. Previously, Japan Nuclear Energy Co inked a 2-billion dong deal ($26 million) to carry out the feasibility study for Ninh Thuan 2.

VietBiz24



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