Attending the signing ceremony were Deputy Minister of Industry and Trade Nguyen Hoang Long; Mr. Nguyen Ngoc Canh - Deputy Governor of the State Bank and representatives of some Departments under the Government Office ; leaders of the Electricity Department (Ministry of Industry and Trade); leaders of some Departments under the State Bank: Department of Credit for Economic Sectors, Department of Monetary Policy, Office, Inspectorate; leaders of the Department of State Enterprise Development (Ministry of Finance)...
On the side of Vietnam Electricity Group (EVN), there were Mr. Dang Hoang An - Party Secretary, Chairman of the Board of Directors; Mr. Nguyen Anh Tuan - General Director; members of the Board of Directors, Deputy General Directors, representatives of EVN's professional departments, and leaders of Power Project Management Board 1.
On the side of the Joint Stock Commercial Bank for Foreign Trade of Vietnam ( Vietcombank ), there were Mr. Nguyen Thanh Tung - Party Secretary, Chairman of the Board of Directors; Mr. Le Quang Vinh - General Director; members of the Board of Directors, Executive Board and representatives of some related departments at the head office.
The Lao Cai - Vinh Yen 500kV Transmission Line Project is a national key project in the energy sector that has been approved by the Prime Minister in principle for investment and the investor. This is a 500kV double-circuit transmission line project with a total length of about 229.5 km with a total of 468 pole foundation locations. The project passes through the territory of 4 provinces of Lao Cai, Yen Bai, Phu Tho and Vinh Phuc and is expected to be completed and put into operation before September 2, 2025.
The total investment of the project is over 7,410 billion VND; of which 80% is arranged from Vietcombank's loan capital and EVN's counterpart capital is 20%.
Once put into operation, the line will be able to transmit about 2,000 – 3,000 MW from hydropower plants in the Northwest region and neighboring provinces to the national grid. At the same time, the project will create a strong connection between regions in the power system, increase the ability to operate safely and stably for the national power system; reduce power loss in the transmission grid, and increase the efficiency of EVN's electricity production and business.
Deputy Minister of Industry and Trade Nguyen Hoang Long speaks
Speaking at the signing ceremony, Deputy Minister of Industry and Trade Nguyen Hoang Long congratulated the successful cooperation between EVN and Vietcombank, affirming that this is an important contract and a highlight in the partnership between the two units.
Emphasizing that in the coming time, EVN will be assigned by the Government to implement renewable energy development programs and adjust the National Power Development Plan for the period 2021 - 2030, with a vision to 2050 (Power Plan VIII) which will open the door to many power projects in both sources and grids, and the need for more investment sources from banks, the Deputy Minister hopes that this Credit Contract will be the first step for EVN and Vietcombank to continue to cooperate and accompany the country in the era of striving to complete the national power development goal by 2030, thereby contributing to Vietnam's double-digit economic growth target.
The signing ceremony of the Credit Contract for the 500 kV Lao Cai – Vinh Yen Transmission Line Project is another important milestone in the traditional cooperation relationship between Vietcombank and EVN, opening a new phase of cooperation to best exploit the potential of each party, contributing to enhancing energy security while consolidating the country's financial and monetary security, contributing to the sustainable development of the country's socio-economy.
Based on Vietcombank's financial capacity and traditional relationship with many positive results, EVN has selected Vietcombank as the Bank to arrange capital for the Lao Cai - Vinh Yen 500kV Transmission Line Project. The credit facility is worth VND 5,472 billion, which will be disbursed within 02 years, with a loan term of 15 years with competitive interest rates.
Source: https://moit.gov.vn/tin-tuc/hoat-dong/hoat-dong-cua-lanh-dao-bo/thu-truong-nguyen-hoang-long-tham-du-le-ky-hop-dong-tin-dung-tai-tro-du-an-duong-day-500kv-lao-cai-vinh-yen.html
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