The Vietnam Development Bank (VDB), together with 3 other banks, inaugurated the Ngoi Phat Hydropower Plant at the Ban Vuoc Commune, Bat Xat District, in Lai Cai Province. With three turbines generating 72 MW of power, the plant is one of the large-scale projects of its kind in the province. In operation, it adds about 314 million kwh of electricity per year to the national grid. Total investment of the project was adjusted to VND 2.068 trillion from VND 1.743 trillion, of which VND 437 billion was financed by investment credit through VDB’s branch of Lao Cai. The plant’s turbines No.1, No.2 and No.3 were connected to the national power grid, respectively, in August, September and November last year. Its successful operation contributes to social-economic development of the border provinces of the country.