$5b for power projects in Vietnam

b for power projects in VietnamThe Electricity of Vietnam Group (EVN), the largest power provider in the country, said it will spend around $5 billion for power projects in 2013. For the funding, the state-run company is close to complete procedures and negotiations with foreign banks and financial institutions to get a fresh $2.58-billion loan.

In 2012, EVN already received a loan of $2.5 billion from both domestic and foreign partners, including $1.93 billion in loans from international organisations such as the Asian Development Bank, the World Bank, the Japan International Cooperation Agency, with the remainder sourced locally. However, of the budgeted $5 billion for 2013, $1.45 billion will go to debt repayments, EVN said.

New power projects comprise mainly hydroelectric facilities. The latest step was a $127 million contract awarded to an Alstom and Hydrochina Zhongnan Engineering consortium for electro-mechanical equipment for the 1,200-megawatt hydroelectric station in Lai Chau province in northern Vietnam.

Vietnam’s demand for electricity in 2013 may surpass 2012 as the industrial production sector begins a likely recovery, EVN Deputy General Director Dinh Quang Tri said at a press conference on 2013 in Hanoi on January 11,

He said the country’s power system was still capable of supplying the economy and domestic market without sudden changes in hydrology and problems at big plants.

To ensure the plan to produce and buy more than 130.5 billion kWh of electricity (an 11 per cent increase on 2012), EVN has added over 2,300 megawatts of capacity to all sources since December 2012. The group has also put a number of transmission and distribution grids into its system to ensure regular supply for southern areas as the North-South power transmission system and the southern electricity system use to face overload in peak times.

EVN currently runs 14 power plants countrywide, including hydro power plants, coal-fired power plants, gas turbine power plants and diesel fired power plants.



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The Electricity of Vietnam Group (EVN), the largest power provider in the country, said it will spend around $5 billion for power projects in 2013. For the funding, the state-run company is close to complete procedures and negotiations with foreign banks and financial institutions to get a fresh $2.58-billion loan. In 2012, EVN already received a loan of $2.5 billion from both domestic and foreign partners, including $1.93 billion in loans from international organisations such as the Asian Development Bank, the World Bank, the Japan International Cooperation Agency, with the remainder sourced locally. However, of the budgeted $5 billion for...

b for power projects in VietnamThe Electricity of Vietnam Group (EVN), the largest power provider in the country, said it will spend around $5 billion for power projects in 2013. For the funding, the state-run company is close to complete procedures and negotiations with foreign banks and financial institutions to get a fresh $2.58-billion loan.

In 2012, EVN already received a loan of $2.5 billion from both domestic and foreign partners, including $1.93 billion in loans from international organisations such as the Asian Development Bank, the World Bank, the Japan International Cooperation Agency, with the remainder sourced locally. However, of the budgeted $5 billion for 2013, $1.45 billion will go to debt repayments, EVN said.

New power projects comprise mainly hydroelectric facilities. The latest step was a $127 million contract awarded to an Alstom and Hydrochina Zhongnan Engineering consortium for electro-mechanical equipment for the 1,200-megawatt hydroelectric station in Lai Chau province in northern Vietnam.

Vietnam’s demand for electricity in 2013 may surpass 2012 as the industrial production sector begins a likely recovery, EVN Deputy General Director Dinh Quang Tri said at a press conference on 2013 in Hanoi on January 11,

He said the country’s power system was still capable of supplying the economy and domestic market without sudden changes in hydrology and problems at big plants.

To ensure the plan to produce and buy more than 130.5 billion kWh of electricity (an 11 per cent increase on 2012), EVN has added over 2,300 megawatts of capacity to all sources since December 2012. The group has also put a number of transmission and distribution grids into its system to ensure regular supply for southern areas as the North-South power transmission system and the southern electricity system use to face overload in peak times.

EVN currently runs 14 power plants countrywide, including hydro power plants, coal-fired power plants, gas turbine power plants and diesel fired power plants.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Personal Info

Donation Total: $10.00

 

 

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