3:48:19 PM | 16/11/2007
The Vietnam National Foreign Trade Forwarding and Warehousing Corporation (Vietrans) said that it has recently signed a strategic cooperation agreement with an affiliate of China Power Grid to invest $64 million to build a hydropower plant in the neighboring country.
The funds Vietrans plans to pump into will account for 10 per cent of the $640 million investment capital for the first phase of a 2,400-megawatt hydropower plant in China’s Guangxi province, it noted.
The Vietnamese corp. did not specify the plant output and the construction timetable.
Vietrans, a leading company in the field of forwarding and warehousing, is a member of the International Federation of Freight Forwarders Associations (FIATA) and of the International Federation of Freight Forwarders Associations (IATA).
Recently, the state-owned Electricity of Vietnam Group planned to hook the national grid onto those of neighboring countries in the region for power trading and standby source sharing.
Since October 2004, Vietnam has bought nearly 200 MW from China through a 110-kV line, purchased up to 300 MW via a 220-kV line. The two neighboring countries plan for connection through a 500-kV line. (Trade)
Vietnamese
