Vietnam's power group urged to produce more electricity
18/12/2006 15:59
The Vietnamese government has instructed the Electricity Group of Vietnam
(EVN), a formerly state-owned corporation, to record annual growth of 16-17
percent between 2006 and 2010, local media reported today.
Deputy Prime
Minister Nguyen Sinh Hung on Sunday gave the instruction at a ceremony on
turning the state-owned corporation into an economic group operating in various
fields, including production of electricity and construction materials and
provision of information technology services, Saigon Liberation newspaper
said.
He also required the EVN to be more competitive both in the domestic
market and foreign ones like Laos, Cambodia and China. The economic group has a
registered capital of nearly 48.4 trillion Vietnamese dong (VND) (some US$3
billion).
The restructure of the EVN, Vietnam's biggest electricity producer
and sole distributor, will help wipe out monopolies and encourage other economic
sectors to develop the local energy sector, Vietnam News newspaper said.
The
EVN is striving to mobilize 636 trillion VND (nearly US$39.8 billion) to build
power plants and transmission lines in the 2006-2010 period. Specifically, it
needs 250 trillion VND ( over US$15.6 billion) to put 25 power plants into
operation before 2010.
Vietnam currently houses 124 power plants with
combined capacity of 34,659 MW. The EVN has either developed or had controlling
stakes in 48 of the plants with total capacity of 20, 570
MW.
Xinhua
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