EVNGENCO3 and Vietcombank sign Contract on restructuring foreign loans for the Mong Duong 1 Thermal Power Plant Project

17:04 06/11/2024

On June 11, 2024, in Ho Chi Minh City, Power Generation Corporation 3 (EVNGenco3) and the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) - Vung Tau Branch held a signing ceremony of the Contract on Restructuring Foreign Loans for the Mong Duong 1 Thermal Power Plant Project.

The Ceremony was attended by key representatives from Vietnam Electricity (EVN), including Mr. Nguyen Xuan Nam, Deputy General Director, and officials from the EVN’s Finance - Accounting Department. Representing Vietcombank were Mr. Nguyen Viet Cuong, Deputy General Director; Mr. Doan Van Tuyen, Director of Vietcombank Vung Tau; and senior executives from various Vietcombank units and boards.

On behalf of EVNGENCO3, the ceremony welcomed Mr. Dinh Quoc Lam, Chairman of the Board of Directors; Mr. Le Van Danh, General Director; members of the Board of Directors; Deputy General Directors; Department representatives; and the Director of the Mong Duong Thermal Power Company.

Mr. Le Van Danh - General Director of EVNGENCO3 and Mr. Doan Van Tuyen - Director of Vietcombank Vung Tau sign the Contract on restructuring foreign loans

Amid global economic volatility, rising interest rates, and sharp fluctuations in the USD/VND exchange rate, in order to mitigate exchange rate risks and optimize financial costs, EVNGENCO3 has proactively implemented a plan to restructure foreign debt in collaboration with Vietcombank Vung Tau Branch, with a converted loan value of VND 2,075 billion. Mr. Le Van Danh, General Director of EVNGENCO3, emphasized that this signing ceremony marks an important milestone, laying the solid foundation for the Corporation to further enhance its financial capacity and invest in future power generation projects.

Speaking at the ceremony, Mr. Nguyen Xuan Nam, Deputy General Director of EVN, highly commended EVNGENCO3’s proactive approach and determination in implementing solutions to optimize financial costs. Building on the strong cooperation between Vietcombank and EVN/EVNGENCO3, Mr. Nam expressed confidence in the continued growth of a robust and effective partnership between Vietcombank and EVNGENCO3 in the future.