Four local commercial banks have signed a credit agreement with Electricity of Vietnam to subsidise part of the funding for the construction of the 100MW Pleikrong hydro power plant in the Central Highlands province of Kon Tum, Vietnam.

The Bank of Foreign Trade of Vietnam (VCB), the Bank for Agriculture and Rural Development (Agribank), the Bank for Investment and Development of Vietnam (BIDV) and the Industry and Commerce Bank (ICB) will grant a total sum of US$88M towards the US$188.6M plant.

The figure breaks down as US$28M from VCB, US$24.7M from Agribank and US$17.6M each from ICB and BIDV.

The Pleikrong hydro power plant is expected to generate 707MkWh/yr when it becomes operational, estimated as between 2007 and 2008.