A credit contract worth VND 820 billion for two 500kV and 220 kV power transmission projects was signed on March 12 in the central city of Đà Nẵng.

Signatories were the Việt Nam Development Bank (VDB), Đà Nẵng branch and the Management Board of Central Power Projects (AMT).

Under the contract, VDB will provide the 500kV Pleiku-Mỹ Phước project with VND 720 million and the 220 kV Đắk Nông -Phước Long-Bình Long project with VND 100 billion, to pay for compensation and resettlement in the project area.

The two projects were also funded by Asia Development Bank (ADB), the Vietnam Bank for Industry and Trade (Vietinbank) and Bank for Investment and Development of Việt Nam (BIDV), for other construction works.

Invested by NPT and spreading across the provinces of Gia Lai, Đắk Lawsk, Đắk Nông, Bình Phước, Bình Dương and Hồ Chí Minh City , the projects aim to reduce power losses and ensure maximum generating capacity of power stations and safe and stable electricity supply for southern areas and the country in general.

NPT said the provision of credit loans from State banks for these projects is part of the Government’s measures to speed up the implementation of urgent power planning toward electric transmission grid development.

Source: news.gov.vn