Mr. Tran The Hung - Director of NPTPMB and Ms. Tran Thi Quynh Hoa, Director of Phan Dang Luu branch of BAC A BANK sign financing agreement for project of installing second 500kV transformer and 220kV transformer at Duc Hoa 500kV substation and its connection line in witness of leaders of both sides - Photo: Le Linh.

According to EVNNPT’s Deputy General Director Nguyen Ngoc Tan, EVNNPT is a subsidiary of Vietnam Electricity (EVN) with the task of investment in and operation of the power transmission system nationwide. The national power transmission system has reached all provinces and cities nationwide and is connected to the power transmission grids of countries in the region with increasingly advanced technologies. EVNNPT's annual investment needs are huge. In the period 2024 - 2030, EVNNPT plans to invest about VND 128,130 billion in the power transmission grid (on average VND 18,000 billion/year). This loan will help EVNNPT partially balance investment capital needs, and diversify borrowing sources so that EVNNPT can be more proactive and flexible in approaching capital mobilization methods in the financial market.

Projects being financed under the financing agreement include (1) Project to install the second 500kV-900MVA transformer and the second 220kV - 250MVA transformer at Chon Thanh 500kV substation, with a value of VND 350 billion. The project will start construction in December 2023 and is expected to complete energization in the fourth quarter of 2025. (2) Project to install the second 500kV transformer and a 220kV transformer at Duc Hoa 500kV substation and connection line, with a value of VND 470 billion. The project will start construction in December 2023, expected to complete energization in the fourth quarter of 2025.

Translator: Vân Ly