Vinh Tan 1 Coal Plant

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Vietnam National Coal and Mineral Industries Group (Vinacomin), China Southern Power Grid Company (CSG) and China Power International Holdings (CPIH) were developing the 1,200MW Vinh Tan 1 coal-fired power plant, Vinh Tan Commune, Tuy Phong District, Binh Thuan Province. CPIH operates via its subsidiary China Power International Development Limited. CPIH is itself a subsidiary of China Power Investment Corporation, from Hong Kong (China). The project was developed under a BOT contract, signed December 26 2012. The contract length was 25 years (of operation). Commissioning was expected for 2017. Initially, the project was expected to become operational in 2010-2011 with construction starting in November 2009, but negotiations starting in November 2006 have taken longer than expected. Power was to be supplied to Electricity of Vietnam (EVN). An MOU on the project was signed in November 2006. Initial principals on the BOT contract was signed in March 2008. The master plan for the Vinh Tan-Binh Thuan Power Center, which included Vinh Tan 1, 2 and 3, was signed into law with Decision 1532/QD-BCN in May 2007. Total project cost was US$1.74 billion. Advisors to the deal were Allen & Overy, Clifford Chance, Vilaf Hong Duc, and Audier & Partners. The project holds a government guarantee (not further specified). Financing comprises a US$1.4 billion facility provided by a syndicate of BOC, China Construction Bank, China Development Bank Corp, ICBC and EXIM Bank of China. Loan agreement was signed on 23 Oct 2014. http://vietmaz.com/2012/12/initialing-contract-on-vinh-tan-1-bot-project/#.US6UumGdbng http://talkvietnam.com/2012/12/bot-contract-signed-for-vinh-tan-1-thermoelectric-plant/#.UcSE-mGWW7w http://www.hoganlovells.com/files/Publication/8bb66561-fa60-43d5-ad7b-750f0b5062fc/Presentation/PublicationAttachment/2b7de9f1-f623-45e4-a38f-77312887cd12/res32ABFFA9EBEE4F7BA390BB812050D15E.pdf