Japan to Give ODA for Vietnam to Build Nuke Plants in Ninh Thuan

State utility Vietnam Electricity (EVN), the country’s sole power distributor, will be allowed to borrow soft loans from Russia and Japan to build nuclear power plants in Vietnam’s central province of Ninh Thuan, state media reported. EVN will build two nuclear power plants Ninh Thuan 1 and Ninh Thuan 2 with a combined capacity of 4,000 MW. The first plant will be built by Russia while the second will be constructed by Japan. EVN will also build eleven other nuclear plants in the central region by 2030 to raise the total capacity of 10,400 MW from nuclear energy. Russia has agreed to lend $10.5 billion to Vietnam while Japan’s government is willing to provide loans under official development assistance (ODA) for the Southeast Asian nation to help it realize. The Russia-sourced money can be used to buy materials and services as well as equipment produced by Russia and the third country. The Japanese loans can be used for paying 85% of EPC contracts. EVN can also borrow loans from local commercial banks such as Vietcombank, Vietinbank, BIDV, Agribank and others. (vinanet.vn Aug 25)