Power producer secures Vietnam's largest ever ECA-backed loan

The $470 million 12-year loan obtained by a unit of Petrovietnam will be used to finance the construction of a 750MW combined-cycle power plant.

A subsidiary of Petrovietnam, the state-owned oil and gas group, has secured the equivalent of $470 million through an Export Credit Agency-supported debt financing for the construction of a combined-cycle power plant project in Vietnam.

The deal for PetroVietnam Nhon Trach 2 Power Joint Stock Co is the largest ECA-backed financing ever to be arranged in Vietnam and shows that these types of financings remain a key tool for the funding of long-dated projects in Asia even as...

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