Vietnam Pulls Request for U.S. Help to Build a Coal-Fired Power Plant
- 6 years ago
Vietnam Pulls Request for U.S. Help to Build a Coal-Fired Power Plant
11, 2018
HONG KONG — A Vietnamese company is no longer seeking American financial support to build a coal-fired power plant in Vietnam, bringing to an abrupt
end a closely watched test of whether Washington would back international projects that could potentially contribute to climate change.
On Thursday, the Export-Import Bank of the United States, a lender run by the American government, said the
Vietnamese state-controlled company, PetroVietnam, had withdrawn its application for financial support.
It isn’t clear why PetroVietnam withdrew the application for American financial support for the Vietnamese coal plant, Long Phu 1.
Mr. said that It was easy for the Ex-Im Bank to back out of this project in Vietnam
because the power plant was going to get its coal from Indonesia and Australia,
On Jan. 26, the United States Treasury Department expanded its Russia sanctions to include Power Machines, a Russian firm
that is one of several construction companies with contracts at Long Phu 1.
The lender, also known as the Ex-Im Bank, takes on the financial risk for American companies exporting high-value equipment
and merchandise as a way to help companies in the United States win valuable international business.
11, 2018
HONG KONG — A Vietnamese company is no longer seeking American financial support to build a coal-fired power plant in Vietnam, bringing to an abrupt
end a closely watched test of whether Washington would back international projects that could potentially contribute to climate change.
On Thursday, the Export-Import Bank of the United States, a lender run by the American government, said the
Vietnamese state-controlled company, PetroVietnam, had withdrawn its application for financial support.
It isn’t clear why PetroVietnam withdrew the application for American financial support for the Vietnamese coal plant, Long Phu 1.
Mr. said that It was easy for the Ex-Im Bank to back out of this project in Vietnam
because the power plant was going to get its coal from Indonesia and Australia,
On Jan. 26, the United States Treasury Department expanded its Russia sanctions to include Power Machines, a Russian firm
that is one of several construction companies with contracts at Long Phu 1.
The lender, also known as the Ex-Im Bank, takes on the financial risk for American companies exporting high-value equipment
and merchandise as a way to help companies in the United States win valuable international business.