HA NOI — The Electricity of Viet Nam (EVN) will borrow US$3 billion from official development assistance (ODA) sources and foreign commercial banks in order to finance electricity projects this year.
|O Mon 1 Thermal Power Plant is under construction. More funding for power plants is coming from Japanese official development assistance. — VNA/VNS Photo Ngoc Ha
Lenders will include the World Bank, the German Reconstruction Bank, the Asian Development Bank, the French Development Agency and the Japan International Co-operation Agency.
Funds will be used to complete the O Mon 3 and 4 thermoelectric projects, improve the national distribution grid and assist the electricity sector in reforming policy.
EVN's total capital expenditures this year are estimated to total about VND75.5 trillion ($3.5 billion), an increase of 18.7 per cent over last year. The investments will enable EVN to bring online eight turbine groups in four different projects with a combined capacity of 1,370MW, as well as begin construction on four other projects with a total capacity of 2,390MW.
EVN also has plans to complete 231 electrical grid projects of 110 to 500kV and begin 60 other projects to build 220-500kV grid. — VNS