The Prime Minister has approved the content of a project aimed at improving the efficiency of the national power transmission network at a total investment of 897 million USD.

Under Decision 521/QD-TTg dated April 14, the Ministry of Industry and Trade will be in charge of the Transmission Efficiency Project (TEP), which is to be carried out by the National Power Transmission Corporation (NPT) under the Electricity of Vietnam group.

Loans worth 500 million USD will be sought from the World Bank for the project, while NPT will arrange the sourcing for the remaining 397 million USD.

The TEP will increase the transmission capacity and reliance of the 500kV transmission system, while enhancing the organizational, financial and operational capacity of the NPT towards becoming an independent company as part of the country’s effort to reform its electricity market.

The project will be carried out from 2014-2018 in all 63 cities and provinces nationwide.-VNA