CEZ signs initial agreement to build 3000 MW power plant in Vietnam
PRAGUE - CEZ subsidiary construction firm Skoda Praha has signed today an initial agreement with Vietnam's power firm EVN to build 3000 MW power plant in Vietnam, CEZ deputy board chairman Daniel Benes told reporters.
'Skoda Praha has today signed a memorandum of understanding to build six 500 MW blocks in Vietnam' he said.
Benes added CEZ will continue to negotiate with the Vietnamese this and next year about details of the deal.
Skoda Praha will be the contractor leading a consortium of Czech and Slovak companies and CEZ' role will be decided later, Benes said.
The Vietnamese would like the first block of the power plant to be ready in 2011 or 2012, Benes said but added he sees that as unrealistic.
Benes wouldn't disclose the value of the deal but earlier reports said it could reach 90 bln crowns.
Speaking at the same briefing, CEZ's chief financial officer Petr Voboril told reporters the company would complete its buyback of 10 pct of its own shares by the end of 2007.
AFX News Limited - September 13, 2007.
Czech, Vietnamese premiers back CEZ power plant project
PRAGUE — The Czech and Vietnamese premiers on Wednesday backed a project for Czech state controlled power company CEZ to build a 3,000 MW coal-fired power plant in Vietnam.
"We both expressed our support for this project which will be very significant for cooperation between our two countries," Vietnamese premier Nguyen Tan Dung said at a news conference on the first day of his official visit.
The power plant would supply around 20 percent of Vietnam's electricity supply needs, Dung added.
His Czech counterpart, Mirek Topolanek, stressed that negotiations were still ongoing.
According to Czech media reports, CEZ-owned engineering company Skoda Praha is lined up to sign a 90 billion koruna (3.1-billion-euro, 4.3-billion-dollar) contract to build the power plant.
Separately, Czech and Vietnamese officials signed an agreement that should smooth the way for each country to return illegal immigrants to the other. Around 40,000 Vietnamese legally live and work in the Czech Republic on long-term or permanent residency permits but many also stay in the country illegally.
Vietnamese workers were invited to former communist Czechoslovakia and stayed on after the Velvet Revolution of 1989 toppled the regime.
Dung is heading an 80-strong delegation of officials and business leaders.
Agence France Presse - September 13, 2007.
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