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Home > Project Financing  - Support Letter from Ministry of Finance to China Exim bank for 84mw hfo power plant project


Support Letter from Ministry of Finance to China Exim bank for 84mw hfo power plant project

The Managing Director & Chief Executive Officer,
China Export-Import (EXIM) Bank,
Beijing, CHINA
Support Letter for Project Financing: -US$103million Loan to finance
84 MW Fuel Oil Power Plant
I wish to refer to the above subject matter and to forward to you the attached documentation submitted by the XXX State Governor t to facilitate consideration of the loan. This is in furtherance to the initial Letter of intention duly signed by the Hon. Minister of Finance that was sent Lo you 11th August, 2009 (copy attached for ease of reference).
            XXX State Government is desirous of constructing an 84MW Fuel Power Plant to be constructed by a Chinese firm Messrs. XXX, at the cost, of US$ 103million to be sourced through the concessionary window of your bank. The State Government had since articulated a Feasibility Studies and executed a Memorandum of Understanding (MOU) with Messrs XXX on the project and also EPC contract (copies attached).
            The purpose of this letter is to further support the State Government on its efforts in the implementation of projects in crucial sectors of energy and power and accordingly recommend for your consideration a credit/ loan about of US$103million from the concessionary window and under the same Terms
and Conditions applicable to our agreed US$ xxxx million Preferential Buyer's Credit.
            Please,accept our best regards.
            Honorable Minister of Finance or Permanent Secretary of MOF.

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