EXIM Thailand Joins Hands with ICBC to Support BCPG’s Development of Hydroelectric Power Plants in Laos and Collaborates with SMTBT
Mr. Pisit Serewiwattana, President of Export-Import Bank of Thailand (EXIM Thailand), and Mr. Bundit Sapianchai, President of BCPG Public Company Limited (BCPG), jointly with Dr. Zhigang Li, Chairman of Industrial and Commercial Bank of China (Thai) Public Company Limited (ICBC (Thai)), on July 20, 2020 at EXIM Thailand’s Head Office, signed a financial facility agreement worth 172 million US dollars to finance hydroelectric power plants in Lao PDR. Meanwhile, EXIM Thailand President, BCPG President and Mr. Manabu Inoue, Chief Executive Officer of Sumitomo Mitsui Trust Bank (Thai) Public Company Limited (SMTBT), also signed a financial facility agreement worth 6,465.07 million yen (equivalent to approximately 1,900 million baht) to support a Chiba 1 solar power plant project in Japan.
EXIM Thailand has collaborated with BCPG which is a Thai entrepreneur with potential in making investment in infrastructure and renewable energy projects for the sustainable economic, social and environmental development of Thailand’s neighboring countries with co-financing by ICBC (Thai) and ICBC Vientiane Branch to support BCPG Indochina Company Limited under a financial facility agreement worth 172 million US dollars. It is aimed to fund development of Nam San 3A and Nam San 3B hydroelectric power plants with a combined generating capacity of 114 MW in Lao PDR. The project serves as part of cooperation under a Memorandum of Understanding (MOU) between the governments of Vietnam and Lao PDR to invest in construction of a cross-border transmission line system for use in sales of electricity from Lao PDR to Vietnam. This is in line with Thai government policy to promote trade and investment connectivity between Thailand and its neighboring countries, and also the Laotian government policy to promote the country as 'Battery of Asia.’
Besides, EXIM Thailand has cooperated with SMTBT in rendering financial facilities worth 6,465.07 million yen to BCPG for construction of Chiba 1 solar power plant project. It is part of the Bank’s solar power plant financing scheme totaling 21,188.22 million yen (equivalent to approximately 6,150 million baht) in addition to another two solar farm projects, i.e. Komagane and Yabuki, with a total capacity of 87 MW under an MOU executed by EXIM Thailand, SMTBT and Sumitomo Mitsui Trust Bank, Limited, Japan, (SMTB) in the development and accomplishment of co-financing pacts specifically for Thai entrepreneurs’ investment projects in Japan.
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