Signing Nho Que 1 Hydro Power Plant construction cooperation contract

The branches of the Bank for Investment and Development of Viet Nam in Tuyen Quang, Ha Giang, Yen Bai, Lang Son have signed cooperation credit contracts in order to support funding for several enterprises to implement  Nho Que 1 Hydro Electronic Power Plant  construction project in Meo Vac District, Ha Giang Province.

Ha Giang is a mountainous region, also a border province. Its terrain with slopes, rivers and streams is very difficult to supply electric power, but convenient to develop small and medium power plants. Therefore, investing in building the plant is paid special attention.

The Nho Que 1 project with capacity of 32 MW   is located in Meo Vac District, Ha Giang Province, the extremely difficult district of our country. According to lending cooperation agreement, the Bank for Investment and Development of Viet Nam will authorize its branch in Ha Giang to lend Nho Que 1 construction project. Lending cooperators are the bank branches in Tuyen Quang, Lang Son and Yen Bai. The contract values maximally 550 billion VND. Among them, the Bank for Investment and Development of Ha Giang’s loan counts for 250 billion VND, in the rest, each bank make a loan of 100 billion VND. Lending time is 144 months, from the date of disbursement to the date of payment in full of loan principal, interests, and fees to the lenders. The loan principal alone must pay within 108 months.

The Nho Que 1 project, one of three power projects has being invested in building and exploiting on the Nho Que River, in Meo Vac District. The project began at the end of 2007. The plant, when completed by the end of 2011, is expected to generate a total of power 130 million KW per year for the nation grid, meeting the demand for upland region in Cao Bang and Ha Giang.