PM approves setting up of 5 power distribution companies

Prime Minister Nguyen Tan Dung has approved the establishment of five power distribution corporations in the parent-subsidiary form as part of the State-owned monopoly distributor Vietnam Electricity.

HCMC Power Company's workers check a power station in a suburban area. (Photo: VNA)

The parent companies, which will be single-member limited liability companies, will be called the Northern Power Corporation, Southern Power Corporation, Central Power Corporation, Hanoi Power Corporation, and Ho Chi Minh City Power Corporation.

The Northern Power Corporation will be established by reorganizing Power Company No.1 and Hai Phong Power, Ninh Binh Power, and Hai Duong Power Companies.

In the south, it will be set up by reorganizing Power Company No.2 and Dong Nai Power Company.

The Central Power Corporation will include the Power Company No.3, Danang Power Company, and Khanh Hoa Power Joint Stock Company.

The existing power companies in Hanoi and HCMC will be upgraded into corporations.

By D.Le – Translated by Hai Mien

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