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EVN sets up joint stock company
The State Bank of Viet Nam has granted a licence to set up the Electricity of Viet Nam Finance Joint Stock Company (EVN Finance).
With a legal capital of VND2.5 trillion (US$147 million), EVN Finance expects to be operational later this month.
According to the EVN finance director, Hoang Van Ninh, EVN contributed 40 per cent of the company’s total capital, the An Binh Bank (ABBank) gave 8.4 per cent, and the Refrigerating and Engineering Joint Stock Company (REE) gave 1.8 per cent.
The company will receive deposits, issue bonds, take loans and entrusted capital from domestic and foreign governments, organisations, and individuals, and perform other financial services.
Yesterday, EVN and Indra, one of Spain’s leading information and technology companies, signed a contract worth $8.3 million to build an Integrated Finance and Materials Management System (IFMMIS) for EVN.
Indra recently signed an agreement with the Vietnamese Government to modernise the national electricity grid by focusing on production, transmission and distribution of power.
VNS
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