Vietnam seeks $3 bln for power projects
The Electricity of Vietnam (EVN) is seeking to raise USD3 billion from investments and loans to fund its major power projects this year according to the Vietnam Business Economy News.
The group plans to secure a USD378.9 million loan and a USD330 million USD loan for improving the efficiency of the distribution network and a 200 million USD loan for the reform of the power sector through the World Bank.
It is also talking with the German Reconstruction Bank (KfW) close to USD2 billion in loans and credit facilities for various power related infrastructure projects including plants, power transmission network and a smartgrid.
EVN said it will urge the Asian Development Bank to help secure USD1 billion from the WB, KfW, the French Development Agency (AFD) and the Japan International Cooperation Agency (JICA) so that it can upgrade and expand the power distribution network.
The new capital sources are expected to allow the group to put into operation eight turbines in four hydropower projects with a combined capacity of 1,373MW and start the construction of four thermo-electric power plants with a combined capacity of 2,390 MW.