Welcoming EVNNPT mission, representatives of NEXI include Mr. Fuminori Inagaki – Vice Chairman; Mr. Kenji Totoki – Executive Director; Mr. Yuichiro Akita – Manager of Energy and Minerals Division – Department of Commercial Finance Insurance and Structure and some other officials.
Representatives of EVNNPT, Chairman Dang Phan Tuong expressed sincere thanks to NEXI leaders for their financial support provided to EVNNPT. Chairman Tuong revealed that the valuable support by NEXI, with the 1st loan of USD 200 million signed on May 19th 2011, has contributed to settle a part of difficulties faced by EVNNPT in arrangement of financial sources for investment and development of transmission grid. Up to now, for this loan, disbursement has been completed and projects have been energized, which contribute to the stable power supply to the Southern focal economic zones. The 2nd loan of USD 245 million funded by Citibank has been signed. At present, EVNNPT is in the middle of finalizing the national legal procedures before starting disbursement. Chairman Tuong expects to continue receiving cooperation and support by NEXI in providing guarantee for Loan 3 funded by BNP Paribas, of total USD 200 million and other projects in futures.
Vice Chairman Inagaki congratulated the achievements gained by EVNNPT in the investment and development of transmission grid. He expressed that NEXI and himself is very glad that they have contributed to the success of the EVNNPT’s projects. He committed to continue providing support and cooperating with EVNNPT in the ongoing projects and future projects as well. He noted that to have Loan 3 implemented as scheduled, EVNNPT must get guarantee by Ministry of Finance within next 6 months. Besides, he emphasized that to further develop the cooperation between the 2 parties, EVNNPT should pay high attention to Japanese benefits in selection of proposed projects and bidders because Nexi’s criteria are to gain benefits for Japanese investors, suppliers, bidders.
Besides, Chairman Dang Phan Tuong shared that EVNNPT have to face with difficulties in selection of Japanese bidders in equipment supply. He revealed that the main reasons are because the equipment of Japan are of high quality which makes price of equipment higher than that of other bidders in the region. This should be settled by all relevant participants. On one hand, the Japanese bidders should have solutions on a more competitive price frame. On the other hand, Nexi should consider to minimize guarantee fees.
Concluding the meeting, the 2 parties expressed expectation on a continued cooperation and committed to increase the cooperation efficiency. Besides, the two parties expect that the signed credit contracts will be implemented effectively for the benefits of both parties, meeting the soci-economic development requirements of the 2 countries