A credit contract, worth 3.3 trillion VND (160 million USD), for a 500 kilovolt power transmission project was signed on December 19 in Hanoi.

The contract was signed between the State-owned Vietnam Electricity’s Power Transmission Corp and the Bank for Industry and Trade of Vietnam ( Vietinbank) - Hanoi branch.

The credit will fuel the 500 kV Pleiku-My Phuoc-Cau Bong project, which is part of the Government’s national grid development master plan.

Covering the provinces of Gia Lai, Dak Lak, Dak Nong, Binh Phuoc and Ho Chi Minh City , the project aims to ensure electricity supply to southern areas in the 2014-2015 period, as well as power grid connectivity across Vietnam , Laos and Cambodia in 2015.

The 9.28 trillion VND project is also funded by the World Bank, the Vietnam Development Bank and the Asia Development Bank./VNA