HCM City Power Corp has recently proposed HCM City People’s Committee to receive loans from official development assistance (ODA) capital for the city’s infrastructure development to carry out underground power grid development.
In its proposal sent to the city’s People’s Committee on April 9, the corporation said that under the power development scheme from now to 2015, electricity sector needs about 17 trillion dong but the corporation can arrange only about 600 billion dong per year.
Therefore, the corporation proposed the city’s People’s Committee to consider underground power grid development projects as key projects to borrow ODA capital, as well as the city’s long term preferential capital with low interest rate from the city’s capital sources.
The corporation said that in 2012, it will develop underground power grid for 18 kilometres of medium-voltage and 43 km of low-voltage in gateway streets of the city and then in district 1 and 3 by 2015.
By 2025, the corporation will complete the underground power grid development in all districts, new urban zones and industrial zones in HCM City.