EVN seeks US$27.51 bln for national grid development

Vietnam’s largest power company Vietnam Electricity (EVN) was expected to mobilize VND600 trillion (US$27.51 billion) from local and international sources to meet capital demand for the national power grid development in 2016-2020, said the Ministry of Industry and Trade yesterday.

EVN expects to mobilize US$27.51 billion for national power grid investment in 2016-2020 (Photo: SGGP)

The company will build and calculate capital demand of projects and investment programs to work with local commercial banks and international financial institutions for preferential loans and official development assistance, said EVN officer.

With the above fund, EVN has set a target to complete and operate 19 turbines from 11 electricity projects with a total capacity of 5,819MW, ensure the progress of key and urgent power projects, and prepare for starting construction of the country’s first nuclear power plant in the central province of Ninh Thuan.

Besides, the fund will finance electricity supply programs approved by the Prime Minister in rural, mountainous and island areas to connect all households there to the national power grid by 2020.

The company’s total investment capital was VND479,620 billion (US$20.06 billion) in 2011-2015, 2.37 folds higher than the previous five year phase.

By Lac Phong – Translated by Hai Mien

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