The project, the first hydro power plant in Vietnam funded by the World Bank, will not only supply power, but is also expected to prevent flooding and droughts, Deputy PM Hai said.
The power plant will benefit the environment and create better living conditions for local people, he said, expressing his hope that the project, with the assistance of WB experts, will meet the strictest environmental and safety standards and ensure social security.
The project has a total investment of $410.7 million, to which the WB provides a $330 million loan.
According to WB Vietnam Director, Victoria Kwakwa, the medium-sized plant, is expected to meet environmental and social requirements and bring practical benefits to Vietnamese people.
The Trung Son hydro power plant will supply low-cost, clean and sustainable electricity, with an annual output of over 1 billion kWh while helping control flooding in the central region by a reservoir. The plant will contribute to Vietnam’s climate change agenda by reducing CO2 emissions by 1 million tonnes per year.
The plant is expected to complete the river dam in the fourth quarter of 2013, fill the reservoir in October, 2016, generate power from the first turbine in the fourth quarter of 2016 and complete the entire project in 2017.
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