Credit loans provided for electricity projects

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Báo Tuổi Trẻ English - 35 month(s) ago 5 readings

Credit loans provided for electricity projects

A credit contract worth 820 billion VND for two 500kV and 220 kV power transmission projects was signed on March 12 in the central city of Da Nang.

3 Electricians installing a transmission line Photo: VNA

According to National Power Transmission (NPT), signatories were the Vietnam Development Bank (VDB), Da Nang branch and the Management Board of Central Power Projects (AMT).

Under the contract, VDB will provide the 500kV Pleiku-My Phuoc – Cau Bong project with 720 million VND and the 220 kV Dak Nong-Phuoc Long-Binh Long project with 100 billion VND, to pay for compensation and resettlement in the project area.

The two projects were also funded by Asia Development Bank (ADB), the Vietnam Bank for Industry and Trade (Vietinbank) and Bank for Investment and Development of Vietnam (BIDV), for other construction works.

Invested by NPT and spreading across the provinces of Gia Lai, Dak Lak, Dak Nong, Binh Phuoc, Binh Duong and Ho Chi Minh City , the projects aim to reduce power losses and ensure maximum generating capacity of power stations and safe and stable electricity supply for southern areas and the country in general.

NPT said the provision of credit loans from State banks for these projects is part of the Government’s measures to speed up the implementation of urgent power planning toward electric transmission grid development.

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