Power transmission grid investment approved

VGP – Deputy PM Hoang Trung Hai has approved a financial mechanism for an investment program on electricity transmission grid (the second phase) with loans from the Asian Development Bank (ADB) and the French Development Agency (AFD).

May 17, 2013 3:43 PM GMT+7

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The Electricity of Viet Nam is in charge of closely supervising the spending of the loans in an efficient manner.

Earlier, the ADB pledged US$730 million in four tranches for the electricity transmission grid investment program in 2011-2020 to improve the delivery of power needed to fuel the country’s fast growing economy.

Viet Nam has worked to increase households’ electricity access, reducing the percentage of those without power from 22% in 1999 to just 3% in 2010.

With power consumption doubling the annual economic growth rate since 2004, and electricity demand expectedly rising 14% per annum over the next four years, ensuring a reliable power supply is a big challenge for the country.

The investment program expects to help boost per capita electricity consumption from 985 kWh in 2010 to approximately 3,800 kWh in 2025./.

By Khanh Phuong