EVN to Build New Hydropower Plant in Central Region

Electricity of Vietnam (EVN) kicked off construction of a 173-MW hydropower plant on November 26 in the Ba River valley in central Binh Dinh and central highlands Gia Lai provinces.

 

The new plant is estimated to cost VND3,737 billion (US$236.5 million). Of which, 15 per cent of the total investment will come from the corporation and 85 per cent from local and foreign commercial loans. The foreign loans for equipment import will bear an interest rate of 7.5 per cent each year, and local commercial loans will have an annual interest rate of 11 per cent.

 

The interest rate of credit loans for site clearance and compensation is 7.8 per cent each year. Around 1,899 households will be resettled. 

 

The two-turbine hydropower plant is designed to generate 694 million kWh of electricity every year, and provide irrigation for the lower section of Con River in Binh Dinh province. 

 

The first turbine is expected to start operation in October 2008 and the second will be operational in December of the same year. The selling price is predicted at 4.1 US cents per kWh.