Tuesday, August 22, 2017 - 0:51:12

Power transmission grid investment approved

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Deputy Prime Minister Hoang Trung Hai has approved a financial mechanism for an investment programme on electricity transmission grid (the second phase) with loans from the Asian Development Bank (ADB) and the French Development Agency (AFD).

The Electricity of Vietnam is in charge of closely supervising the spending of the loans in an efficient manner.

Earlier, the ADB pledged 730 million USD in four tranches for the electricity transmission grid investment programme in 2011-2020 to improve the delivery of power needed to fuel the country’s fast growing economy.

Vietnam has worked to increase households’ electricity access, reducing the percentage of those without power from 22 percent in 1999 to just 3 percent in 2010.

With power consumption doubling the annual economic growth rate since 2004, and electricity demand expectedly rising 14 percent per annum over the next four years, ensuring a reliable power supply is a big challenge to the country.

The investment programme expects to help boost per capita electricity consumption from 985 kWh in 2010 to approximately 3,800 kWh in 2025.-VNA/VGP
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