In a recent interview with Dau Tu Chung Khoan, Dinh Quang Tri, deputy general director of Electricity of Vietnam (EVN) said that despite the depressed stock market and the failure of IPOs, the group is determined to speed up the corporate value appraisal for power plants and come out with IPOs.
As planned, EVN will initiate IPOs for Da Nhim-Ham Thuan_Da Mi plant and Phu My I plant. In case of the continuing downward slide of the stock market, EVN will ask the government's approval on selling shares by other methods along with the public auctions.
EVN plans to build nuclear, hydro and thermal power plants with a total estimated capacity of 34,765 MW, accounting for 57% of the total new power supplies in the country. For this the company needs to borrow 437 trillion dong and raise 63.473 trillion dong from shareholders, ODA capital and preferential credit. According to Tri, EVN's capital demand for power plants from 2008 to 2015 will be more than 830 trillion dong.
EVN will keep the 100% state capital in Hoa Binh, Yaly and Tri An power plant.
Most recently, the group refused investment in 13 projects due to capital shortage. Tri said, to pursue those projects, EVN needs to have at least US$3 billion.
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