BIC provides insurance for Ba Thuoc 2 hydropower plant project

BIC Insurance Co and Hoang Anh-Thanh Hoa hydropower Joint Stock Co have lately signed an insurance contract for risks in construction and installation works of Ba Thuoc 2 hydropower plant project sited in Luong Ngoai Commune, Ba Thuoc Dist, Thanh Hoa Province.

In details, BIC will provide insurance for the risks of asset loss and responsibilities happening to the third party during the construction and installation process with total insurance value of over 919 billion dong.

It is said that the Ba Thuoc 2 hydropower plant project has been carried out by Hoang Anh-Thanh Hoa hydropower JSC, a member company of Hoang Anh Gia Lai Group as the main investor. The project’s investment capital was estimated at more than 1.6 trillion dong. The hydropower plant, with designed capacity of 80MW, is supposed to officially start operation in December 2011.

Together with Ba Thuoc 1 hydropower plant, when being put into operation, the two hydropower plants will supply about 700 million KWh per year into the national grid, bringing in annual revenue of 500 billion dong.

Tags: BIC, Vietnam insurance market

Posted by VBN on Jan 26 2010. Filed under Insurance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry