Vietnam's power sector eyes $270 mln foreign loans
HANOI - Vietnam's power industry plans to borrow 4.08 trillion
dong ($270.47 million) from foreign sources to achieve a growth target of 11.5
percent in 2002, official media reported on Friday.
The Vietnam News Agency (VNA) said the plan to seek foreign funds was for part of
the programmed investment by the state utility Electricity of Vietnam (EVN) totalling
15.74 trillion dong ($1.04 billion) needed to achieve the industry's production target
this year.
VNA did not detail the projects to which EVN would direct its investment with the
foreign funds.
It said EVN would generate 34.39 billion kilowatt hours this year to meet a rising
demand of power consumption and strive to complete a number of projects such as
Yali Hydropower Plant, gas-fired turbins in the Phu My 1, Phu My 2-1 and Ba Ria
plants.
Construction would also start for projects including the Phu My 4 thermal power plant
in the souther province of Ba Ria-Vung Tau and the expanded Uong Bi coal-fired
plant in the north.
The 11.5 percent target has been set to ensure the 14 percent growth rate Vietnam
has planned for its industry sector in 2002. Last year, Vietman's industry sector grew
14.2 percent.
Friday's Thoi Bao Kinh Te Vietnam (Vietnam Economic Times) quoted the Industry
Ministry as saying the growth target of the power sector for 2002 meant it had to
increase its electricity generation capacity to 7,570 megawatt.
Vietnam's power generation capacity in 2001 was put at more than 6,800 MW.
Foreign investors operating in Vietnam include British firm BP , Electricite de France
and several Japanese contractors.
Reuters - January 11, 2002.
|