Today: 17-03-2006
World Bank to lend US$200 million for power development http://www.vneconomy.com.vn/eng/?param=article&cateid=01&id=2073a27b0de11f
VNECONOMY updated: 17/03/2006
The World Bank will grant a US$200 million loan to help Viet Nam conduct a second electricity transmission and distribution project.
An agreement to this effect was signed in Ha Noi on March 16 by Le Duc Thuy, State Bank of Viet Nam Governor, and Klaus Rohland, World Bank Country Director for Viet Nam.
The project will be carried out at a total cost of about 323 million USD in the 2006-2010 period.
The project will facilitate new generation capacity connected to 500 kV transmission system links to eliminate power shortages, reduce the number and duration of interruptions in the 500 and 200 kV transmission system and 110 kV distribution systems.
Addressing the signing ceremony, Le Duc Thuy said: "The demand for electricity in Viet Nam has grown at an annual rate of between 10-15 percent over the last several years, and it is expected to continue increasing in the years to come, to facilitate the expected annual economic growth rate of 7-8 percent. This project has significant importance for the implementation of the new Electricity Law in particular and for the objectives of economic growth and poverty reduction objectives in Viet Nam.
Klaus Rohland said that to meet the growing demand for electricity, it is essential to facilitate evacuation of power from generation complexes, and to improve the overall control and stability of the local distribution system while adding new generation capacity.
Source: Vietnam Agency
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