On 8/8, the World Bank (WB) in Vietnam, said the World Bank Board of Executive Directors has approved $ 500 million loan to improve power, performance and stability in the electricity transmission network the key economic areas such as the expansion of Hanoi, Ho Chi Minh city expanded, the Mekong delta and Central Region.
The project will finance construction of transmission lines and 220 substations and 500 kV in order to improve the capacity and reliability of the electricity transmission network to meet the needs of about 15% growth in Vietnam's power grid during period 2015-2020 and focuses on the key economic areas, where electricity transmission network has been or will be overwhelmed in the future.
The goal of the project is to build over 1,000 km of power transmission and application of power transmission technology intelligently enhances the reliability and quality of electricity supply in Vietnam.
In addition, the project will also support transmission technology for intelligent monitoring, inspection and protection equipment to enhance reliability and reduce outages.
In addition, the project will also help strengthen the capacity of the power transmission company countries through support measures to strengthen operational autonomy and financial framework of the power sector reform program.
As expected, this program will pilot the wholesale electricity market to competition from 2015.
Total investment of the project is estimated at 731.25 million, of which $ 500 million will come from the International Bank for Reconstruction and Development - the organization of the World Bank Group specializes in financing for middle-income countries average loans.
231.25 million remaining amounts due to the Government of Vietnam will provide.
Source: VNEEP on 8/13/2014