EVN’s debt tops $450 million

The Vietnam Electricity Group (EVN) owed 9 trillion dong (US$450 million) in its electricity and coal purchases in the first quarter of this year, according to Sai Gon Tiep Thi Newspaper.

Of this amount, EVN owed Petro Power 5.1 trillion dong ($255 million) and the Vietnam National Coal and Minerals Industries Group (VNCOMIN) 552 billion dong ($27.6 million).

The figure owed VNCOMIN doesn’t include a debt for coal purchases, which would triple the actual debt to the coal supplier.

VNCOMIN said the actual figure was 1.5 trillion dong ($75 million).

Ding Quang Tri, deputy CEO of EVN, said EVN suffered a loss of 8 trillion dong last year.

EVN has recently asked for loans from the government to pay its debt. – Tuoitre

Tags: EVN

Posted by VBN on May 6 2011. Filed under Energy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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