The signatories included the Trung Son Hydropower Company under the Electricity of Vietnam (EVN), contractors Samsung C&T and the Construction Joint Stock Company No. 47. According to Ngo Viet Hai, the Chairman and CEO of the Trung Son Company, this phase will cost nearly US$150 million.

Keiko Sato, the WB’s Vietnam Portfolio and Operations Manager stated that this is an important project for Vietnam’s future and said she hopes that the WB’s financial assistance will be used effectively during the project’s construction.

With a total investment of around US$386 million, the Trung Son hydropower is being built on the Ma River, in Trung Son commune, Quan Hoa district, in the central province of Thanh Hoa and will comprise of four turbines.

One fully completed and fully in operation by 2018, the power station will produce 1.55 billion kWh annually.

Apart from generating power, the project will also help to control floods in the central region.