ADB helps develop southern power transmission networks
The Asian Development Bank and Vietnam have signed a loan agreement worth 231.3 million USD that will help the country construct and upgrade its power transmission networks in the southern region.
Hanoi (VNA) - ෴The Asian Development Bank (ADB) and Vietnam have signed a loan agreement worth 231.3 million USD that will help the country construct and upgrade its power transmission networks in the southern regionꦏ.
This is the third loan in the 10-year lasting Power Transmission Investment Programme approved by the bank in 2011.
Eric Sidgwick, ADB National Director in Vietnam, said the financing is expected to support the Vietnamese Government in tackling power supply shortage, which is a major obstacle to the country’s economic growth.
The programme will also help Vietnam access and use latest technologies to develop its transmission systems in line with international standards, contributing to minimising power losses and preventing climate change.
Accordingly, Vietnam will use the loan to develop 60km more of 500 kV transmission line and 64 km more of 220kV transmission line, and add 3,700 MVA to existing transmission systems in the south.
As scheduled, ADB will approve the fourth loan for Vietnam in 2017, focusing on developing 500 kV transmission lines and transformer stations in southern localities.
Once completed in 2020, the programme is hoped to help improve the efficiency of power transmission systems nationwide, contributing to promoting the nation’s economic growth.-VNA
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The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
illustrative image (Source: VNA)
