Disbursement for Electricity Projects of PVN and EVN Remains Slow

09-Aug-2012 Intellasia | VnExpress | 9:12 AM

Ministry of Construction (MoC) has recently said that business and production value of enterprises directly under MoC was estimated at 90.593 trillion dong in the first seven months of this year, equaling to 54 percent of the year’s plan and 96.9 percent over the same period last year.

Of which, the construction value was estimated at 35.2 trillion dong, equivalent to 58.8 percent of the year’s plan and 102.5 percent year-on-year.

However, the progress of many key projects is very tense. Many electricity projects of Electricity of Vietnam Group (EVN) and Vietnam National Oil and Gas Group (PetroVietnam-PVN) cannot continue construction due to capital shortage from investors.

Construction material and industrial production value (including Vietnam Cement Industry Corp) was estimated to reach over 4.6 trillion dong in July and nearly 33.756 trillion dong in Jan-Jul, or 54.2 percent of the year’s plan and equaling to 98.5 percent compared with the same period last year.

Due to the general difficult economic situation and especially the gloomy real estate market, cement consumption reached 4.12 million tonnes in July, lifting the total figure in Jan-July to 27.6 million tonnes, or 50.3 percent of the year’s plan and 97.5 percent y-o-y.

Earlier, EVN said that in 2010-2011, due to highly increasing demand and unfavourable weather condition, EVN had to buy electricity at high price and used oil for electricity production, the group posted loss of eight trillion dong three trillion dong respectively.

By Decemtber 31, 2011 total audited forex rate difference was 26 trillion dong.





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