Issues
relating to cooperation in financial arrangement, project implementation were
exchanged and discussed during the meeting. However, the following issues were
particularly highlighted:
-
Extension of the closing date of Northern Power Transmission Expansion Sector
Project – Loan 2225-VIE;
-
Eligibility of Bidders, pending issues and solutions for procurement works of
projects funded by ADB.
-
Enhancement of implementing and monitoring capacity the compliance with
environmental and resettlement safeguards of EVNNPT.
-
Coordination with the Government of Laos, Electricity du Laos and generation
investor in Laos territory to reach the synchronizing with the
500kV Hatxan - Pleiku transmission line.
-Potential
for further cooperation.
With
insight, sharp analysis capabilities and convincing evidence providing, the
delegation has brought great success with the most important mark was the
approval in principle by ADB for a 6-month extension of loan 2225 -VIE (up to
30 June, 2013) to let EVNNPT
completing involved works. According to ADB’s regulations, each loan can be
extended only 01 time (Loan 2225-VIE has
expired since 31 December, 2010, and was extended for another 3 years until 31
December, 2013) and no precedent from ADB side that allows other loans to be
extended to the 2nd time.
The objective of this extension is to serve the completion of 03 new added
subprojects to the loan which approved by ADB by the end of 2011. These 03 new subprojects
were included to take advantage of the
saving after bidding along with the balance of $ 15 million due to the decrease
in LIBOR 2% in 1st half of 2005 (the time of signing the loan agreement) to
0.9% in 2nd half of 2012 and has been approved for EVNNPT to purchase spare parts from December
2012.
With
the successful convincing ADB to extend the loan for another 06 months, EVNNPT can complete all subprojects under
Loan 2225-VIE as well as take full advantage of preferential loans for the
investment, construction of transmission grid and meet the power requirements
of the economy.
Luong Lan Dung - Director of International Cooperation