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EVN remains in debt to PetroVietnam, Vinacomin
Vietnam Electricity Group, the country’s monopoly power supplier, has yet to repay its VND10 trillion (US$487.8 million) debt to two other state-run enterprises despite repeated urging by the creditors since April.
At a meeting held by the Ministry of Industry and Trade in Hanoi yesterday, the Vietnam National Oil and Gas Group (PetroVietnam) and the Vietnam National Coal and Mineral Industries Group (Vinacomin) sought the ministry’s intervention in the affair.
Nguyen Van Bien, Vinacomin’s deputy CEO, said his company would face difficulty in operating its power generators if EVN did not pay up. “EVN owes Cam Pha thermal power plant VND1 trillion and the plant needs the money for its operation,” he said.
Vu Quang Nam, PetroVietnam’s deputy CEO, said EVN owed large sums to two of its subsidiaries, PetroVietnam Oil Corporation and PetroVietnam Gas.
In July PetroVietnam asked the government to persuade EVN to repay its debts, saying the amount included VND7.7 trillion in electricity bills owed to PetroVietnam’s thermal power plants and VND422 billion in interest.
PetroVietnam said EVN also owed VND895 billion to its Ca Mau 1 and 2 thermal power plants from whom it bought power from 2007 and 2009.
Vinacomin and PetroVietnam said they had been demanding repayment at almost every meeting held by the Ministry of Industry and Trade, but EVN’s refrain was that it lacked funds and it did not mention any plans to clear the debts.
This time too EVN had remained silent about repayment plans, they said.
Deputy Minister of Industry and Trade Hoang Quoc Vuong said the two companies should sympathize with EVN. Earlier this year the government had ordered banks to lend EVN VND10 trillion but it still could not mobilize this loan, he said.
He urged EVN to work with banks to soon get the loan.
EVN also needs money to buy oil for power generation since the Nam Con Son gas pipelines that feed its thermal power plants in the southern region, which are responsible for around a fourth of the national power output, will be closed for maintenance from September 15 to 25. “EVN needs to quickly get the loans for buying oil and clear part of its debts to PetroVietnam and Vinacomin,” he said.
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