JBIC signs Nghi Son 2 loan

JBIC has signed a $560 million loan with Nghi Son 2 Power Limited Liability Company (NS2PC) to part fund the Nghi Son 2 coal-fired power generation project in Vietnam. The total 22-year $1.869 billion project debt is being co-financed by Kexim, SMBC, MUFG, Mizuho Bank, Shinsei Bank, OCBC, DBS Bank, and Maybank. JBIC and Kexim are providing political risk guarantee for the portion of the loan financed by the commercial lenders.

NS2PC will build, own and operate a coal-fired power plant with an installed capacity of 1,200MW in Thanh Hoa Province. The electricity generated will be sold to state-owned Vietnam Electricity (EVN) under a 25-year PPA.