HANOI, Jan 16 (Reuters) - Vietnam's state utility EVN signed an agreement on Friday for a syndicated loan worth 29.57 trillion dong ($1.13 billion) to build an LNG-fired power plant, the company said.

The loan is provided by four of Vietnam's top banks, including Vietcombank (VCB.HM) , opens new tab, VietinBank (CTG.HM) , opens new tab, BIDV (BID.HM) , opens new tab and Agribank, EVN said in a statement.

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The Southeast Asian country is seeking to ramp up its power generation capacity to keep up with its expanding economy, which grew 8% last year.

The loan will cover around 56% of the funding needed for the 1,500-megawatt Quang Trach II power plant to be built in the central province of Quang Tri, EVN said.

The plant is scheduled to be fully operational by 2030.

($1 = 26,235 dong)

https://www.reuters.com/business/energy/vietnams-evn-secures-113-billion-loan-lng-power-plant-project-2026-01-16/