EVN to be fully restructured in 2012: director

At the meeting on January 6, 2012 to summarise the performance of Electricity of Vietnam Group (EVN), the group’s general director, Pham Le Thanh, said that in 2012, EVN will perform three key tasks.
First, the group will ensure proving enough electricity for social demands and economic development. Second, the group will ensure enough electricity supply for nine national key projects. Last but not the least, the group will undertake restructuring.

Regarding the restructuring plan for EVN, together with divesting capital in sectors such as real estate, securities and bank, EVN is considering to restructure three main segments namely industry structure, ownership structure and administration structure.

In 2012, EVN targets total electricity production and purchase at 118.5 billion kWh, up 11.5 percent from 2011. Of which, electricity output turned out by EVN would be 50.88 billion kWh and electricity purchase would be 67.62 billion kWh (import from China at about 4.64 billion kWh).

The total commercial power output in 2012 would be about 105.18 billion kWh, rising 11.9 percent from 2011.

EVN will also continue electricity saving programme with minimum target of 1 percent of commercial power and reduce the energy loss ratio to below 9.5 percent in 2012.

To carry out construction investments, EVN’s total investment capital in 2012 would be about 75.567 trillion dong, rising 18.7 percent compared to 2011′s actualised capital.

Of which, net investment would be 52.248 trillion dong, rising 21.1 percent year-on-year and payment for original debts and loan interest rate at 22.851 trillion dong.

EVN also planned to sign new ODA (official development assistance) loans worth over $2 billion and about $1 billion worth of foreign commercial loans. Particularly, EVN will sign a framework agreement for the grid transmissioninvestment programme under the Multi-annual Financial Framework (MFF) in 2011-2020 period totalled at $730 million.

EVN will also sign an Energy Sector Development Policy Loan phase 2 (DPL2) with World Bank (WB) worth $200 million.

EVN will sign a loan for Distribution Efficiency Programme (DEP) project from WB totalled at $378.9 million and some other loans.

In addition, EVN will promote the process of receiving funding from the Asian Development Bank (ADB) and other banks such as WB, Jica, KJW, AFD worth about $1 billion for new investments and electricity grid improvement.

In 2011, EVN raised total $4.9 billion, including ODA loans and preferential loans worth over $3 billion and credit loan for export combined incentives from the Export-Import Bank of China totalled at over $1.8 billion. – Vietbiz24

Source: http://businesstimes.com.vn/evn-to-be-fully-restructured-in-2012-director/

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