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EVN needs 11.86 trillion VND for power projects
The Electricity of Vietnam Group (EVN) has said it needs around 11.86 trillion VND from now to the year’s end to develop power generating and transmission line projects.
Of the required capital, some 6.75 trillion VND is expected to be sourced from domestic commercial credits, 1.11 trillion VND from foreign loans, and the remaining 4 trillion VND from bonds.
In the first half of the year, 14 hydroelectric and thermoelectric power projects under construction saw the halt of disbursement due to capital shortages, EVN said.
The group also failed to arrange investment capital for five other power projects, including Huoi Quang, Ban Chat, expanded Uong Bi 2, Quang Ninh 2 and Vinh Tan 2, as well as the construction of 220-500kV electricity transmission lines.
To reduce capital shortages, EVN put on hold around 390 projects with a combined investment of 1.46 trillion VND. It also sought basic depreciation loans from local joint sock companies such as Pha Lai and Vinh Son-Song Hinh, and short-term funding from foreign banks.
For the long term, EVN is planning to sell part of its stakes in joint stock companies through direct negotiations with strategic investors.
The group also worked out a master plan to set up joint stock companies in which EVN holds less than 30 percent of stakes to carry out the approved projects. State-owned businesses will be invited to join strategic investors both at home and abroad in joint stock companies.
EVN in the past six months increased its total output to 36.4 billion kWh, a 14.8 percent year-on-year rise. It sold about 31.8 billion kWh, up 15.6 percent over the same period last year.
VNA
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