Signing a credit contract of 524 billion VND for the project to increase the capacity of Hoa Binh 500kV Substation

National Power Transmission Corporation (EVNNPT) and Vietnam Development Bank (VDB) signed a credit contract for the project to increase the capacity of the 500kV Hoa Binh transformer station.

This is an activity within the framework of the signing of the Agreement on cooperation in financing State investment credit capital between EVNNPT and VDB that has just been signed.

Mr. Tran The Hung, Director of the Power Transmission Project Management Board (NPTPMB) said that the project to increase the capacity of the 500kV Hoa Binh Transformer Station (TSB) is a special-class, group B energy project, invested by EVNNPT, and NPTPMB represents the investor in managing and operating the project.

The project is implemented at the existing 500kV Hoa Binh substation located in Tan Thinh ward, Hoa Binh city, Hoa Binh province.

The main project scale is to replace 2 existing 500/220/35 kV-450MVA transformers with 2 500/220/35 kV-900MVA transformers, increasing the total capacity of the station by 900MVA, raising the total capacity of the station to 1800MVA.

The 500kV Hoa Binh transformer station, after being upgraded, will contribute to enhancing the power transmission capacity from large and small hydropower sources in the Northwest region, ensuring stable power supply for Hanoi and the northern provinces, especially in the context of high load demand.

According to Mr. Le Van Nam, Deputy General Director of VDB and Director of Transaction Office I, EVNNPT is a traditional customer in credit relations with VDB. The state investment credit contract to finance the project to increase the capacity of Hoa Binh 500kV substation with a loan of VND 524 billion is a concrete step to realize the memorandum of cooperation signed between EVNNPT and VDB.

VDB Deputy General Director cum Director of Transaction Office I pledged to continue to closely coordinate with EVNNPT and its member units throughout the project implementation process; believing that the projects will be completed on schedule, with high efficiency, bringing practical benefits to the community.

At the signing ceremony, Mr. Tran The Hung, Director of NPTPMB said: This is an urgent project that plays an important role in ensuring national energy security. The project has a total investment of nearly 800 billion VND, of which the loan from the Vietnam Development Bank through Transaction Office I is 524 billion VND - accounting for the majority of the implementation capital. The signing of the Credit Contract not only marks a specific step in the project implementation process, but also demonstrates the trust and effective coordination between major State organizations towards the goal of sustainable development of the energy sector.

NPTPMB highly appreciates the responsibility and support of the Vietnam Development Bank, especially Transaction Office I, throughout the process of appraisal and capital arrangement for the project.

At the same time, commit to strictly and fully implementing the terms of the credit contract; using capital for the right purpose, ensuring investment efficiency and closely coordinating with Transaction Office I throughout the disbursement and project implementation process.

With the close direction of EVNNPT leaders and effective support from VDB, NPTMB believes that the project will be implemented on schedule, ensuring quality and investment efficiency.

Toan Thang

Source: https://baochinhphu.vn/ky-hop-dong-tin-dung-524-ty-dong-cho-du-an-nang-cong-suat-tba-500kv-hoa-binh-102250514103337355.htm