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China Eximbank provides $11.5 million buyer's credit loan for 51MW Srok Phu Mieng Hydroelectric Power Plant Construction Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | IDICO Srok Phu Mieng Hydropower Joint Stock Company (JSC) |
| Country | Viet Nam |
| Start Date | Aug 16, 2004 |
| End Date | Aug 27, 2032 |
| Duration | 10,238 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 64459 |
Grant Description
China Eximbank provides $11.5 million buyer's credit loan for 51MW Srok Phu Mieng Hydroelectric Power Plant Construction Project On August 16, 2004, China Eximbank and IDICO Srok Phu Mieng Hydropower Joint Stock Company (JSC) — a special purpose vehicle (SPV) that is 51% owned by a Vietnamese state-owned company called Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO) Joint Stock Company (JSC) — signed a $11,513,250 buyer’s credit loan agreement [BLA04073] for the 51MW Srok Phu Mieng Hydroelectric Power Plant Construction Project.
The proceeds of the loan were to be used by the borrower to partially finance an EPC contract with Dongfang Electric Corporation (DEC).
The purpose of the project was to construct a 51MW hydroelectric power plant — with two, 25.5MW power generation units (Unit 1 and Unit 2) — in Long Binh commune, Phu Rieng district, and Binh Phuoc province. DEC was the EPC contractor responsible for project implementation. Construction began on November 24, 2003.
Unit 1 was installed on October 13, 2006. Unit 2 was installed on January 25, 2007. The project totally completed on July 7, 2007.
Staff Comments
- This project is also known as the Srok Phu Mient HPP Project and the 2x25.5MW Srok Phu Miêng Hydroelectric Power Plant Construction Project. The Vietnamese project title is Thủy điện Srok Phu Miêng.
- 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.
Sources & References
- BAO CAO TAI CHINH DA DU'O'C KIEM TOAN Cho nam tai chinh ket thuc ngay 31 thang 12 nam 2011
- Active Participant in Boosting Sino-Arab Energy & Power Cooperation: Vision of Dongfang Electric Corporation
- BẢN THÔNG TIN TÓM TẮT
- BÁO CÁO TÀI CHÍN
- Dongfang Electric Corporation
- NHÀ MÁY THỦY ĐIỆN SROK PHU MIÊNG
- China's Overseas Development Finance
- INITIAL PUBLIC OFFERING VIETNAM URBAN AND INDUSTRIAL ZONE DEVELOPMENT INVESTMENT CORPORATION COMPANY LIMITED
- DRS Official Commitments from China Through 2021
- IDS_Average interest on new external debt commitments
- IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments 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.
All Grantees
IDICO Srok Phu Mieng Hydropower Joint Stock Company (JSC)
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