Tan Tao Investment Industry Corporation (ITACO) has announced information of Kien Luong 1 Electric Plant as follows:
* ITACO signed a contract with Standard Chatered to choose Standard Chatered as a financial consultant of Kien Luong 1 Electric Plant. Standard Chatered gave advices on 02 thermo-electric projects in 02 years at Indonesia and Philippine with an investor who implemented electric project first time. Therefore, with Standard Chatered agreed to arrange capital for Kien Luong 1 Electric Plant and Vietnam Government’s approval of capital underwriting, the project were ensured the feasibility.
* At present, ITACO has appraised the EPC package with Mott McDonald (An ITACO’s consultant of OE technology).
* With the compensation of land clearance, ITACO compensated 75% of whole area of 03 stages of Kien Luong Electric Center (*), including 100% of the first stage which ITACO finished compensation and has built infrastructure. ITACO expected to hand over lands to EPC contractor in quarter 2/2010 and the construction will finish on time in December 2013 on undertaking with the Government.
(*) Temporary translation.