Representatives of EVNNPT and MB sign a credit contract on January 26. (Photo: VNA)
The National Power Transmission Corporation (EVNNPT) on January 26 signed credit contracts worth over 15.6 trillion VND (634 million USD) with five banks to implement projects to build the 500kV circuit 3 transmission line from Quang Trach to Pho Noi.
The 500kV circuit-3 transmission line spans 519km from the central province of Quang Binh’s Quang Trach district to the northern province of Hung Yen’s Pho Noi.
The 22-trillion-VND (895.95 million USD) project runs through 211 communes and wards across 43 districts and towns of the provinces of Quang Binh, Ha Tinh, Nghe An, Thanh Hoa, Ninh Binh, Nam Dinh, Thai Binh, Hai Duong, and Hung Yen.
The five banks are the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank), Military Commercial Joint Stock Bank (MB), Asia Commercial Joint Stock Bank (ACB) and Vietnam International Commercial Joint Stock Bank (VIB).
Speaking at the signing ceremony, Chairman of the EVNNPT Member Council Nguyen Tuan Tung said the 500kV line project from Quang Trach to Pho Noi is important to connecting the inter-regional power grid. Once operational, the project will help increase inter-regional transmission capacity from the current 2,200 MW to about 5,000 MW, contributing to ensuring electricity supply for the North in the coming time.
Given the importance and urgency of the project, the Prime Minister has directed the Vietnam Electricity Group (EVN) and EVNNPT to strive to complete the projects by this June./.