The delegation of the Commission for the Management of State Capital at Enterprises paid a site visit to Hoa Binh Hydropower Plant Extension project on September 24, 2019.
Accordingly, EVN's Board of Directors would finalize the feasibility study report of the project, which inherited and absorbed the opinions and comments from relevant ministries, agencies, local authorities, and considered comments from experts for reference, with the aim of increasing peak capacity for the national power system.
EVN's Board of Directors shall exercise rights and responsibilities of the investment decider for the project in accordance with current legal regulations; take responsibility for the project schedule, project quality and project management in order to ensure the effectiveness during the investment implementation.
Mr. Ho Sy Hung - Vice Chairman of the Commission for the Management of State Capital at Enterprises said: By empowering the Board of Directors of EVN to decide on project investment, EVN will be more active in project implementation, as well as saving more time.
Mr. Ho Sy Hung requested the specialized units under the Commission for the Management of State Capital at Enterprises (the Commission) to control the project schedule, strengthen the collaboration with EVN, and immediately report to the management of the Commission outstanding issues to ensure the project implementation in a timely and good quality manner. Mr. Ho Sy Hung asked EVN to pay due attention to the environmental impact assessment of the project. In addition, it is necessary for EVN to apply information technology to gain a satisfactory project management, save time and manpower.
Hoa Binh Hydropower Plant Extension project is invested by EVN with a total investment cost of VND 9,220 billion, of which 30% is funded by the counterpart fund of the project owner and 70% is financed by commercial loans. The project has a capacity of 2 x 240MW, an electricity output of about 488.3 million kWh per year. The project is expected to commence construction in the fourth quarter of 2020 and be completed in 2023.