PM approves EVN business restructuring project hinh anh 1The PM approves EVN business restructuring project (Illustrative image. Source: VNA)

Hanoi (VNA) –
The Prime Minister has approved a master plan on restructuring enterprises under the Electricity of Vietnam (EVN) in the period 2017-2020.

Under the plan, the EVN will be developed into a strong economic group to maintain a key role in ensuring power supply for socio-economic development, national energy security, as well as national security and defence.

The EVN is expected to play a key role in developing the country’s power industry in a rapid and sustainable manner with high competitiveness and effective international integration.

Its key business lines will include power generation, transmission, distribution and trading, power import-export, as well as investment in and management of investment in power projects.

It will be also in charge of managing, operating, maintaining and upgrading power generation, transmission and distribution facilities and providing investment project making and management consultancy.

[EVN told to handle loss-making projects]

The EVN will still remain the one-member limited liability company in which the State holds 100 percent of charter capital.

It will include subsidiary companies such as the Son La, Hoa Binh, Ialy, Tri An, Tuyen Quang, Se San and Huoi Quang-Ban Chat hydropower companies, the Electric Power Trading Company, the Power Information Centre and several electricity project management units.

It will hold 100 percent of charter capital at the National Power Transmission Corporation, the Northern Power Corporation, the Central Power Corporation, the Southern Power Corporation, the Hanoi Power Corporation, the Ho Chi Minh City Power Corporation, and the National Load Dispatch Centre.

It will also hold more than half of charter capital at the power engineering consulting joint stock companies 1 and 2, the power generation corporations 1,2,3 and the Vinh Tan 3 Energy JSC.

The EVN will withdraw all capital from affiliates such as the Finance Joint Stock Company, the Thu Duc Electro Mechanical Joint Stock Company, the Dong Anh Electrical Equipment Corporation - Joint Stock Company, the Thuan Binh Wind-Power Joint Stock Company, the Power Engineering Consulting Joint Stock Companies 3 and 4.-VNA