Vietnam electricity needs investment
11-JUL-2008 Intellasia | UPI
Jul 11, 2008 - 7:00:00 AM
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The Electricity of Vietnam Group said it needs more than US$700 million for transmission.
EVG said it would take about US$747.18 million from now to the end of 2008 to develop power-generating and transmission line projects.
In the first half of the year, 14 hydroelectric and thermoelectric power projects under construction saw the halt of disbursement due to capital shortages, EVG said.
The group also failed to arrange investment capital for five other power projects as well as the construction of transmission lines.
To reduce capital shortages, EVG had to put about 390 small projects on hold and is seeking loans and international investments.
For the long-term, EVG is planning to sell part of its stakes in joint stock companies through direct negotiations with strategic investors.
State-owned businesses also will be invited to join strategic investors, both at home and abroad, in joint stock companies.
EVG has increased its total output in the last six months to 36.4 billion kilowatt hours, a 14.8% year-on-year increase, and it sold about 31.8 billion kilowatt hours, up 15.6% over the same period last year.
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