China Eximbank provides $385.22 million buyer's credit loan for 600MW Hai Phong 2 Coal-Fired Power Plant Construction Project (Linked to Record ID#65736)

📋 Staff Comments

1. This project is also known as Phase 2 of Hai Phong Coal-Fired Power Plant Construction Project, the 2x300MW Hai Phong Thermal Power Plant Phase 2 Project, the Haiphong 2 Coal-Fired Power Plant Project or the Hai Phong TPP Project Phase 2. The Vietnamese project title is NMNĐ Hải Phòng 2. The Chinese project title is 越南海防热电厂二期 or 越南海防二期项目. The Vietnamese project title is NMNĐ Hải Phòng 2 or Nhà máy Nhiệt điện Hải Phòng 2.
2. Hai Phong Thermal Power Joint Stock Company (Công ty Cổ phần Nhiệt điện Hải Phòng), which is majority-owned by EVN, was established on September 17, 2002.
3. No sources explicitly state that China Eximbank committed $385.22 million. However, sources confirm that the China Eximbank loan proceeds were used to finance 85% of a $453.2 million EPC contract (see 'Khởi công Dự án Nhà máy Nhiệt điện Hải Phòng 2'). 453.2 x 0.85 = 385.22.
4. According to a working paper from the University of Tokyo (see source #32278 p. 12) and the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020 (see source #122899), China Eximbank supported this project with a $557 million loan. Boston University also claims this loan agreement was signed in 2008, not 2007.

📚 Sources & References

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• Khởi công Dự án Nhà máy Nhiệt điện Hải Phòng 2
• Vietnam power loan is signed
• Khởi công xây dựng Nhà máy Nhiệt điện Hải Phòng 2
• Trung Quốc là đối tác hàng đầu
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• BÁO CÁO THƯỜNG NIÊN CÔNG TY ĐẠI CHÚNG Công ty Cổ phần Nhiệt điện Hải Phòng
• Từ giá đánh giá đến quản lý hợp đồng (kỳ 5)
• 东方电气股份有限公司 2016 年年度报告
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• 越南海防热电厂二期举行开工仪式 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.