Vietnam / Bac Me Hydropower plant construction Project
Nippon Export and Investment Insurance
NEXI has decided to provide Loan Insurance for loans extended to Vietnam Trading Engineering Construction Joint Stock Corporation ("Vietracimex"). The loans are to be provided by Sumitomo Mitsui Banking Corporation, The Gunma Bank Ltd., The Chugoku Bank., Ltd., and The Bank of Yokohama, Ltd..
The purpose of the project is to construct a Hydropower plant (45MW) in Ha Giang province of Vinetnam. This project is approved by the government of Vietnam as one of the project in Power Development Plan Ⅶ. The support for Vietracimex by providing insurance contributes to provide stable electricity to Japanese company.
For The Chugoku Bank., Ltd., The Gunma Bank Ltd. and The Bank of Yokohama, Ltd., this project is the first to be insured of Loan Insurance.
NEXI will continue to participate in the infrastructure project overseas especially in Asia and also, the project for the business of Japanese company abroad.
Reference
1. Lenders
Sumitomo Mitsui Banking Corporation
The Gunma Bank Ltd.
The Chugoku Bank., Ltd.
The Bank of Yokohama, Ltd.
| Insurance | Loan Insurance |
|---|---|
| Borrower | Vietnam Trading Engineering Construction Joint Stock Corporation |
| Insurable Amount | USD55.4 million |
| Covered Risk | Political Risk and Commercial Risk |
| Tenor | 14 years |