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China Bank of Communications contributes to $143 million syndicated buyer’s credit loan for 100MW An Khanh 1 Coal-Fired Power Plant Construction Project (linked to Record ID#35270, #100726, #100727)
| Funder | China Bank of Communications (BoCom or BoComm) |
|---|---|
| Recipient Organization | An Khanh Thermal Power Joint Stock Company |
| Country | Viet Nam |
| Start Date | Dec 22, 2011 |
| End Date | Aug 11, 2032 |
| Duration | 7,538 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 100728 |
Grant Description
China Eximbank, BOC, CCB and CBC contribution to $143 million syndicated buyer’s credit loan for 100MW An Khanh 1 Coal-Fired Power Plant Construction Project On December 22, 2011, four Chinese state-owned banks and An Khanh Thermal Power Joint Stock Company— a project company and special purpose vehicle (SPV)— signed a $143,055,000 syndicated buyer’s credit loan agreement for the 100MW An Khanh 1 Coal-Fired Power Plant Construction Project.
The Zhejiang Branch of the Bank of China (BOC), China Construction Bank, the Export-Import Bank of China (China Eximbank), and Bank of Communications each contributed approximately $35.75 million to the syndicated loan.
The loan's interest rate is unknown.
The borrower was expected to use the syndicated loan proceeds to partially finance a $168.3 million EPC contract signed in June 2010 with People Electrical Appliance Group (PEOPLE).
Record ID#35270 captures the estimated financial commitment of China Eximbank, Record ID#100726 captures the estimated financial commitment of Bank of China, Record ID#100727 captures the estimated financial commitment of China Construction Bank, and Record ID#100728 captures the estimated financial commitment of China Bank of Communications.
The first loan disbursement equal to $39,355,000 did not occur until January 5, 2013 and the entire $143,055,000 was disbursed as of May 10, 2015.
In December 2011, the Bank for Investment and Development of Vietnam (BIDV) also provided a $25 million loan for the 100MW An Khanh 1 Coal-Fired Power Plant Construction Project. The Independent Power Project (IPP) project was financed with 85% debt and 15% ($25 million) equity.
The purpose of the project was to construct a 100MW coal-fired power plant — with two, 50MW power generation units (Unit 1 and Unit 2) — in An Khánh commune, Dai Tu district, and Thái Nguyên province. PEOPLE was the EPC contractor responsible for project implementation. Works officially commenced on January 30, 2010.
The power plant was officially inaugurated and connected to the national electricity grid on October 1, 2015.
Staff Comments
- This project is also known as the 2x58MW An Khánh-1 Thermal Power Plant Construction Project. The Vietnamese project title is Nhà máy nhiệt điện An Khánh or Nhiệt điện An Khánh. The Chinese project title is 安庆火电站项目.
- An Khanh Thermal Power Joint Stock Company is also known as An Khánh Thermo-Power Joint Stock Company or An Khanh Thermal Power JSC or 安庆电力股份有限公司.
- The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.
- The individual contributions of China Eximbank, Bank of China, China Construction Bank, and China Communications Bank to the $143,055,000 syndicated loan are unknown. For the time being, AidData assumes equal contributions ($35,763,750) across all four known members of the syndicate.
Sources & References
- China/Vietnam: Chinese bank offers loans to thermal power project
- Three China Banks to Lend $143M to Vietnam Thermal Power Projec
- An Khanh signs $143m loan deal
- 中国银行，您的越南最佳伙伴银行
- 中国银行向越南安庆热电项目提供1.43亿美元贷款, 2017 Report: VGF Survey for PPP Projects in Viet Nam
- Ký kết Hợp đồng cung cấp tài chính cho Dự án Nhiệt điện An Khánh
- 人民电器： 参与境外项目承包彰显“人民力量”
- China's Overseas Development Finance
- An Khanh power station
- HÒA LƯỚI THÀNH CÔNG TỔ MÁY SỐ 1 NHÀ MÁY NHIỆT ĐIỆN AN KHÁNH – THÁI NGUYÊN
- 中行浙江省分行支持“一带一路”项目再结硕果——人民电器集团越南火电站项目并网发电
- 搭上“丝路快车”，与浙商一起飞【浙江日报】
- 习近平访越南 推进经贸合作
- 中国银行，您的越南最佳伙伴银行【Vietnam Investment Review
- Việt Nam mượn của Trung Quốc bao nhiêu?
- Ngân hàng TW Trung Quốc - Bank of China giải ngân kịp thời khoản tín dụng cho Dự án nhiệt điện An Khánh 1
- Prepared for 1st unit generation- An Khanh 1 Thermal Power Plant
- AN KHANH THERMAL POWER PLANT PROJECT
- Will a carbon tax be imposed on coal-fired thermal power plants?
- Thai Nguyen props up private sector development
- Bank of China ready to finance Vietnam's infrastructure projects
- An Khanh 2X50MW thermal power plant project in Vietnam
- Quá trình thành lập & phát triển Tập đoàn An Khánh
- 中越双方签署五个经贸合作文件
- World Bank PPI
- 中国银行胡志明市分行出席越南电力集团沿海三期燃煤电站 开工仪式 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
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An Khanh Thermal Power Joint Stock Company
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