Workers at PetroVietnam carry out technical checks. Fitch Ratings last month assigned PVN first-time long-term foreign-currency issuer default rating (IDR) at ‘BB’ with a positive outlook. (Photo: VNA/VNS) Hanoi (VNS/VNA) – Demand for investment capital at the Vietnam Oil and Gas Group (PetroVietnam) and its member units for 2018-20 is estimated to reach 620 trillion VND (26.7 billion USD), PetroVietnam Securities Inc (PSI) recently announced. According to Bui Huy Long, deputy general director of PetroVietnam Securities Inc, of the 620 trillion VND, loans accounted for more than 30 percent through traditional credit and bond issuances. Urgent projects such as Thai Binh 2 Thermal Power Plant, Long Phu 1 Thermal Power Plant, Block B-O Mon Gas Project, Blue Whale Gas Project and Sao Vang – Dai Nguyet Gas Project, will require 4 billion USD, Long said. Fitch Ratings last month assigned Petro Vietnam first-time long-term foreign-currency issuer default rating (IDR) at ‘BB’ with a positive outlook. This is a positive credit rating that will help PetroVietnam improve its ability to mobilise capital in the international market and diversify capital sources for investment projects in the context of restrictions for loans guaranteed by the Government. This showed PetroVietnam's strong financial status and business performance as well as its bright… Read full this story
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