Mr. Truong Chi Trung – Vice Minister
of Finance and Ms.Christine Heimburger – KfW Director, North Eastern Asia and
Pacific Asia signed the project Loan Agreement
“Smart Grid – Transmission
Efficiency Project (Phase 1) is invested by EVNNPT. It has 6 220kV subprojects (3 transmission lines: Bac Giang -
Lang Son, Nho Quan - Thanh Nghi, Nha Trang - Thap Cham and 3 substations: Quang
Chau, Thanh Nghi, Lạng Son), with total investment cost of about VND 2,700
billion, of which total KfW fund is EUR 65 million (equivalent to about USD 71 million),
which include fund for equipment, installation, consultant, contingency and
under framework of Tranche 3, Power Transmission Investment Program co-funded
by KfW and ADB.
The objectives of project is to
extend and develop the power transmission system, reduce overload for the
national power grid and meet power demands in the North-Eastern area and
South-Central area, evacuating timely the capacity of power plants to the
growing load centres, maintaining the security, increasing reliability and
quality of the national power transmission network.
Mr.
Vu Tran Nguyen – EVNNPT’s Vice President and Mr. Patric Shizardi – Director of
KfW’s Energy Department, signed the project Separate Agreement
The signing of project Loan
Agreement with KfW is very significant for mobilizing fund for EVNNPT in investment, upgrade and
development of power transmission network, meeting the current growing power
demands in Vietnam.
At present, EVNNPT actively discusses with KfW to prepare a “Smart Grid –
Transmission Efficiency Project (Phase 2), of which Separate Agreement is
expected to be signed in period 2016-2017, with total KfW fund of EUR 95
million as committed in 2012 Financial Agreement signed by Government of
Federal Republic of Germany and Government of Socialist Republic of Vietnam./.