The Electricity of Vietnam Group (EVN) is completing procedures and negotiations with foreign banks and financial institutions to get a USD2.58-billion loan for its power projects in 2013.
EVN secures USD2.58-billion loan for 2013 projects
EVN will spend around VND106.6 trillion (USD5.08 billion) to implement power projects this year, including around VND30.29 trillion (USD1.45 billion) which will go to debt repayments.
In 2012, EVN received a loan of USD2.5 billion from both domestic and foreign partners, including USD1.93 billion in loans from international organisations such as the Asian Development Bank, the World Bank, the Japan International Cooperation Agency, with the remainder sourced locally.
EVN also announced that power prices would average VND1,459 per kWh this year, up 7.2% from last year.
Vinacomin’s debts estimated at USD1.2 billion
Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) received loans of over VND25 trillion (USD1.2 billion) in 2012 from both domestic and foreign partners.
The figure was announced by General Director Le Minh Chuan at a meeting to review the group’s operations in 2012.
Vinacomin borrowed USD300 million from Citibank and Japan’s Nippon Export and Investment Insurance for its Lam Dong Bauxite Project. It also received USD200 million from the Sumitomo Mitsui Banking Corporation for the Dong Nai 5 Hydropower Plant.
VIB and MaritimeBank lent Vinacomin VND1.3 trillion (USD61 million) for its coal projects.
