EVN invests in over 5,200 projects in 5 years

Electricity of Vietnam (EVN) has recently reported its investment projects since 2006 so far.

During past five years, EVN has invested in 5,238 projects with the investment for each project at from one billion dong and higher. Of which, 75 projects have been invested by the EVN holding company, 22 others invested by EVN’s joint stock companies and the remaining financed by EVN’s subsidiaries.

Of 5,238 projects, 3,647 projects have been finished, 1,403 others are under construction and 188 projects have not started yet.

EVN also put into operation 21 power source projects, 445,000 power grid projects from 110-500 kV. At the same time, EVN is carrying out 15 power source projects including six being started construction in 2010 and hundreds of power grid projects.

The group is also preparing to start 11 power source projects and finalising procedures for four power source projects to start in 2011 and put into operation after 2015.

According to EVN, because the demand of number of power projects is big while the electricity price is not allowed to increase along with the price of materials and fuel increases thus power projects are not attractive.

Foreign investors after pouring capital into Phu My 3 factory has not invested in any BOT power factory so far. Many projects do not have enough capital for reinvestment.

However, EVN said that although many projects are under slow progress, from 2006 so far, the group has paid both principal and interest rate of loans in accordance with the credit contracts signed with creditors.

Regarding long term investments in 2010, EVN’s total investment reached 6.155 trillion dong in September, bringing the total figure in Jan-Sep to 36.8 trillion dong including over 17.7 trillion dong for power source projects, 9.913 trillion dong for power grid projects, 1.721 trillion dong for telecommunications, engineering and 7.409 trillion dong paying for loans. – TBKTVN

Tags: EVN