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Vietnam Development Bank to provide loan for Lai Chau hydro project

The Vietnam Development Bank will provide a loan of US$219 million for the construction of the 1,200-MW Lai Chau hydropower plant in Vietnam, media reports indicate.

The loan will be used will be used for migration, resettlement and the manufacture of hydraulic machines for the hydropower plant, which being developed by state owned electric utility Electricity of Vietnam (EVN).

A ground-breaking ceremony recently was completed for the US$1.8 billion Lai Chau hydropower project.

The hydro project, located in Nam Hang Commune in Lai Chau Province, is expected to start generating in 2017.

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