The Prime Minister Phan Van Khai has urged to establish a working team in charge of budgeting capital for power projects to be executed in the 2006-2010 period, State media reported.
The main task of the working team, comprising of officials from the Ministries of Planning and Investment, Industry, Finance, the State Bank of Vietnam and the Government’s office is to mobilize sufficient capital investment for power projects in the coming time.
While chairing the team, the Ministry of Planning and Investment (MoPI) will hurriedly draw up a plan on power price adjustments, build effective solutions to mobilize investments for the EPC (engineering, purchasing, construction) power projects and BOT (Build-Operate-Transfer) power projects. A list of projects calling for BOT investment will be made public.
This year Electricity of Vietnam plans to raise VND20 trillion (US$1,333 million) for its biggest ten power projects, including VND2,000 billion (US$133 million) worth of bonds and an estimated US$250 million worth of imminently-issued international bonds.
The ten projects including two hydropower plants - Huoi Quang and Ban Chat - kicked off earlier this year and another 8 eight big power projects with a total capacity of 2,839 MW, including Song Tranh II, expanded Thac Mo, Khe Bo, O Mon I, Quang Ninh, O Mon III, expanded Uong Bi II and expanded Ninh Binh.
Power demand is estimated to reach 93 billion kWh by 2010 and 200-250 billion kWh by 2020. Vietnam will have to build 52 power plants, 8,943 km of high-tension lines, and 29,480 MVA of transformer stations which will cost US$13.7billion, to meet increasing electricity demand.
VietnamNet, Capital Security
Vietnamese
