nha cai 188bet BIDV, VietinBank sign $281-million credit deal for O Mon IV power plant
BIDV, VietinBank, and Petrovietnam have signed a credit agreement to finance nha cai 188bet O Mon IV Thermal Power Plant.
nha cai 188bet O Mon IV Thermal Power Plant is a component venture of nha cai 188bet Block B - O Mon gas-to-power project chain invested by Petrovietnam. Located in nha cai 188bet O Mon Thermal Power Centre in Can Tho city, nha cai 188bet plant has a capacity of 1,050 MW and utilises modern combined-cycle gas turbine technology.
Works on nha cai 188bet O Mon IV Thermal Power Plant started in August 2025. nha cai 188bet engineering, procurement, and construction contract has been signed. Many items are being implemented, with completion scheduled for 2028.
Once operational, nha cai 188bet O Mon IV Thermal Power Plant is expected to utilise natural gas efficiently from nha cai 188bet Block B field, converting domestic energy resources into electricity. nha cai 188bet project will supply a large-scale source of electricity to nha cai 188bet Mekong Delta, contributing to ensuring national energy security, promoting green growth, and creating more jobs and revenue for nha cai 188bet national budget.
Le Ngoc Son, chairman of nha cai 188bet Board of Directors of Petrovietnam, explained that, "Offshore natural gas can only realise its full value when downstream power plants are ready to receive it. nha cai 188bet partnership of Vietnam’s two largest state-owned commercial banks in providing a $281 million credit package is nha cai 188bet key to unlocking capital flows, ensuring that nha cai 188bet entire value chain – from extraction and transportation to power generation – is implemented in a coordinated manner and according to nha cai 188bet established timeline."
Le Ngoc Lam, chairman of nha cai 188bet Board of Directors of BIDV said that nha cai 188bet successful arrangement of a large local-currency capital source for a large-scale energy project is vivid proof of nha cai 188bet strong financial capacity, profound understanding, and spirit of readiness to shoulder national responsibilities demonstrated by BIDV and VietinBank.
"nha cai 188bet event is not merely a business lending decision but also demonstrates nha cai 188bet pioneering role of leading financial institutions in promoting nha cai 188bet mobilisation of nha cai 188bet economy’s internal strengths, as well as prioritising projects that are significant in nha cai 188bet process of developing green energy in accordance with BIDV’s environmental, social, and governance standards," Lam noted.
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