Signing ceremony of loan agreement for Component Project 1 - Power Plant of Quang Trach II LNG Thermal Power Plant Project

16:23, 16/01/2026

On January 16, 2026, Vietnam Electricity (EVN) signed a loan agreement for Component Project 1 - Power Plant of the Quang Trach II LNG Thermal Power Plant Project with a joint venture of four state-owned commercial banks: Vietnam Foreign Trade Commercial Bank (Vietcombank), Vietnam Industrial and Commercial Bank (VietinBank), Vietnam Investment and Development Bank (BIDV), and Vietnam Agricultural and Rural Development Bank (Agribank); with Vietcombank acting as the lead bank.

The Quang Trach II Liquefied Natural Gas (LNG) Thermal Power Plant project, with a capacity of 1,500MW, including 2 units, each 750MW, applies combined cycle gas turbine technology, and is being built in the Hon La Economic Zone, Phu Trach commune, Quang Tri province. The project is invested by EVN with a total amount of over VND52,490 billion, of which 20% is equity capital and 80% is commercial loan capital. The project is divided into two component projects: Component Project 1, including Power Plant, with a total investment of VND40,123.455 billion; Component Project 2, including the LNG storage and port, with an estimated total investment of VND11,800 billion.

Component Project 1 of the Quang Trach II LNG Thermal Power Plant Project aims to: Invest in and construct a power plant with a capacity of approximately 1,500MW, including combined-cycle gas turbine generating units, and auxiliary systems for the generating units, such as water supply and treatment systems, wastewater treatment systems, electrical systems, and synchronized measurement and control systems.

To implement the project, the investor, EVN, simultaneously carried out many tasks, including the preparation for funding. The total loan amount for Component 1 of the Quang Trach II LNG Thermal Power Plant Project is VND 29,568 billion. Leveraging their experience and leading position in financing key national projects, the four banks in the joint venture coordinated to arrange funding for the project in accordance with regulations, ensuring consistency, prudence, and efficiency. This created the necessary foundation and conditions for EVN to proactively implement the project on schedule and maintain strict quality control. The timely arrangement of credit funding is a crucial driving force in helping the project realize its set objectives.

The Quang Trach II LNG Thermal Power Plant project is being invested in and constructed with the goal of supplying power to the national power grid, contributing to ensuring the security of power supply for the system, meeting the requirements of the Power Development Plan VIII, and minimizing the emission of harmful substances, thereby contributing to the protection of the ecological environment. The project is expected to begin commercial operation in the period of 2028-2029 and be fully completed by 2030.

Here are some photos from the signing ceremony: