The meeting was held online with Power Generation Corporations No. 1, 2, 3 and Power Project Management Board No. 1, 2, 3 of the Group.
Reporting at the meeting, Mr. Tran Viet Kim - EVN's Deputy Director of Planning Department said that the estimated investment volume in the first 7 months of 2020 of the whole Group reached VND 41,880 billion, equivalent to 44.9% of the plan. The disbursement value of investment capital reached VND 37,117 billion, or 39.8% of the plan.
It is scheduled that EVN will start construction of Hoa Binh Hydropower Plant Extension Project and Quang Trach I Thermal Power Plant Project at the end of 2020. Currently, Power Project Management Board No. 1 and Power Project Management Board No. 2 have been accelerating the implementation of investment procedures and the financial arrangement for these two projects to meet their approved tentative schedules.
In fact, due to a number of objective factors, the investment implementation progress of some important power generation projects has been affected. In particular, the mobilization of a huge amount of fund via borrowings from domestic commercial banks requires complicated and prolonged procedures. As for the mobilization of foreign loans, due to the limit of public debt ceiling, EVN will have to arrange non-sovereign loans in the form of self-borrowing and self-paying for foreign lender's debts.
Along with that, the investment preparation procedures for projects have met a lot of difficulties related to the Law on Environmental Protection.
The mission of the Commission for Management of State Capital at enterprises conducted a field inspection in Hoa Binh Hydropower Plant Extension project on September 24, 2019
Due to the COVID-19 pandemic, EVN sets a target that in 2020 they strive to achieve 88% of the construction investment plan set out at the beginning of the year, and to get ready for the construction investment plan in the period of 2021 - 2025 and Master Plan No. 8.
EVN's Vice Presidents suggested that the Power Project Management Boards should promote the application of science and technology in project supervision and construction schedule monitoring. The PMBs are required to concentrate the best efforts on settlement of the completed investment capital, ensuring settlement of projects which have been put into use according to the schedule assigned by the Group.
Currently, EVN has been performing investment procedures for 12 power generation projects with a capacity of 11,020 MW and Phuoc Thai 2 Solar Power Project (100 MW), Phuoc Thai 3 Solar Power Project (50 MW).