The Export-Import Bank of China (Eximbank) said Tuesday it has signed an agreement to provide a 147 million U.S. dollar loan for the construction of a thermal power station in Vietnam.

The power station, to be operated by the Vietnam coal and minerals group, is a major project in the Asian country's electricity development plan for 2006-2010.

The project will have two generating units each with a capacity of 110 megawatts. At a cost of 212 million dollars, the power station is expected to be operational by 2008.

China's Shanghai SFECO group has won the contract to build the main part of the power station at a cost of 173 million dollars.

A major government-owned policy bank in China, Eximbank has been actively involved in helping Chinese contractors to compete in the international market.

According to the bank, it has so far provided one billion dollars in buyers' credit loans to foreign power station projects built by Chinese contractors.

Source: Xinhua