Agribank Funds Hydroelectric Plant

Northern province of Lao Cai has the enormous hydroelectric potentiality

The Agriculture and Rural Development Bank (Agribank) has pledged VND844 billion (almost US$53 million) to the building of a hydro-electric power plant in northern border Lao Cai province.

A contract to this effect was signed in Ha Noi on Oct. 30 between Agribank and the plant's investor, the Infrastructure Development and Construction Corporation (LICOGI).

The Bac Ha hydroelectric plant, with a capacity of 370 million KWh per year, is part of the government's electricity development master plan for the 2001-2020 period.

The construction of the plant started in 2005 with a total investment capital of almost VND1.7 trillion (US$106 million). It is expected to become operational in late 2009.

Source: VNA

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