Attending in the ceremony were: the leadership representatives of the Office of the President, Office of Government, Ministry of Finance, State Bank of Vietnam, Ministry of Planning and Investment, Ministry of Industry and Trade, Ministry of Justice, Ministry of Foreign Affairs, State Auditor, VietnamElectricity (EVN), Board of Management and Board of Directors of NPT, the NPT’s professional departments.
Currently, the National Power Transmission (NPT) is implementing the Transmission and Distribution 2 (TD2) Project, IDA 4107-VN Credit funded by WB. Component 1 of the project (transmission component) includes 9 subprojects with the total amount of USD 143 million.
The Additional Finance Transmission and Distribution 2 (TD2AF) project is proposed by WB under the IBRD source in fiscal year 2011, with a total value of USD 180 million in addition to TD2 project. Continue to support the development of Vietnam transmission system basing on the achievements from the TD2 original project is the objective of the TD2AF.
The TD2AF Project will continue to strengthen and maintain the safety, reliability and to timely transmit power from new power plants to the developing load centers. The primary goal of the project is to increase investment scale to continue to effectively support the development of the original project Transmission and Distribution 2 (TD2) in improving the reliability, reducing overload, and ensuring the smoothly transfering capability of the national transmission system.
The project includes 10 transmission line and substation subprojects: 500 kV Voltage consists of 04 subprojects including one transmission line (T/L) and 03 substations (Ss); 220 kV voltage consists of 06 subprojects including 03 T/L 03 Ss. The subprojects will be commence in 2010 as earliest, completed and put into operation in 2013 at last.
According to priority list, the first 07 subprojects have been appraised completely by WB and be classified in stage 1; the rest 03 subprojects are under Technical Design approval, Environment Management Planning , Ethnic Minority Policy, compensation and resettlement, procurement plan preparation, are arranged into stage 2.
According to Mr Luu Van Hung – International Cooperation Department - NPT: On March 29, 2011, the World Bank’s Board of Directors officially announced its approval of the additional loan of USD 180 million to expand the TD2 project. The Prime Minister issued document No.722/TTg-QHQT reporting the negotiation results with WB on the additional loan of project TD2 on May 9, 2011. Hence, the State Bank of Vietnam (SBV) in collaboration with World Bank organized the ceremony of financing agreement and other concerning legal documents of the TD2AF project.
At the signing ceremony, Mr. Nguyen Van Giau – Govenor of SBV, who represents Vietnam Government and Ms. Victoria Kwakwa - World Bank’s Country Director in Vietnam who represents WB, signed the Credit Agreement between the Vietnam Government and World Bank. Also within the framework of the ceremony, Ms Victoria Kwakwa - Country Director of WB in Vietnam and Mr. Dinh Quang Tri – Vice President of EVN and Mr. Nguyen Manh Hung – incharge of the Board of Management cum NPT’s president signed the Project Agreement of TD2AF project as well as amendment letter of the TD2 original Agreement, added provisions letter of TD2.
After the signing, legal opinion of the Ministry of Justice for the official Agreement will be collected and submit to the Office of the President for approval. After that, Sub-Credit Agreement will be signed by Ministry of Finance and NPT. All Agreement will be effective after 90 days since signing date.