Petrovietnam Secures VND7.3 Trillion Credit for O Mon IV Thermal Power Plant

Petrovietnam O Mon IV credit financing BIDV VietinBank

On 24 July, Vietnam's state‑owned banks BIDV and VietinBank signed a financing agreement with Petrovietnam to provide a credit package worth VND 7.3 trillion (about US$281 million). The funds will support construction of the O Mon IV Thermal Power Plant in Cần Thơ, a combined‑cycle gas‑turbine facility with a capacity of roughly 1,050 MW. Work on the plant began in August 2025 and is slated for completion in 2028. Once operational, the plant will convert natural gas from the Block B‑O Mon field into electricity for the Mekong Delta, bolstering national energy security, creating jobs and generating additional budget revenue. Petrovietnam Chairman Le Ngọc Son said the credit arrangement unlocks capital flows essential for downstream power projects, while BIDV Chairman Le Ngọc Lam highlighted the deal as proof of the banks' financial strength and commitment to national priorities. The financing is a key milestone in the Block B‑O Mon gas‑to‑power chain, Vietnam’s largest integrated energy value chain.

Entities

BIDV · Le Ngoc Son · O Mon IV Thermal Power Plant · Petrovietnam · VietinBank

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[○ 1 SOURCE] The plant will use combined‑cycle gas turbine technology. vir.com.vn
[○ 1 SOURCE] The O Mon IV Thermal Power Plant has a capacity of about 1,050 MW. vir.com.vn
[○ 1 SOURCE] Le Ngọc Lam said the credit package demonstrates BIDV’s financial capacity and commitment to national responsibilities. vir.com.vn
[● 2 SOURCES] Construction of O Mon IV began in August 2025 and is scheduled for completion in 2028. tuoitre.vn · vir.com.vn
[○ 1 SOURCE] Le Ngọc Son said offshore natural gas can realise its full value when downstream power plants are ready, and the credit arrangement unlocks capital flows. vir.com.vn
[● 2 SOURCES] BIDV and VietinBank arranged a credit package of VND 7.3 trillion (US$281 million) for the O Mon IV Thermal Power Plant. tuoitre.vn · vir.com.vn
[● 2 SOURCES] The financing is part of the Block B – O Mon gas‑to‑power chain, Vietnam’s largest integrated energy value chain. tuoitre.vn · vir.com.vn
[● 2 SOURCES] The plant will supply electricity to the Mekong Delta, enhancing national energy security. tuoitre.vn · vir.com.vn