9:28:02 AM | 23/10/2008
The State Bank of Vietnam (SBV) has recently requested the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and other state-owned commercial banks to speedily appraise and decide loans provision to state-owned Electricity of Vietnam Group (EVN)’s power projects slated for operation between 2008 and 2009, the Vietnam News Agency reported.
EVN needs capital for its power projects such as 330-MW Uong Bi 2 expanded thermo-power plant, Lai Chau, 1,200-MW Vinh Tan 2, 1,000-MW Duyen Hai 1, 700-MW O Mon 3, and 720-MW O Mon 4.
Regarding Ban Chat and Huoi Quang hydropower projects, commercial banks must join hands with EVN to determine power prices in line with the power price hike roadmap by the Ministry of Industry and Trade in order to consider capital provision for the plants.
EVN needs over VND43 trillion (US$2.6 billion) for power projects in 2008, however, it has mobilized nearly VND36 trillion (US$2.18 billion).
Nearly 10 projects that are slated for operation in 2008 and 2009 in Vietnam may be lagged behind their schedules due to investment shortfall, which may worsen the national power thirst after 2012.
The country is forecast to lack 8.6 billion kWh of power this year. The figure will climb to 36 billion kWh in 2020 and 120 billion kWh in 2030. (Local sources)
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