EVN

Update news EVN

BUSINESS IN BRIEF 1/8

VN exports face tough challenges; SBV approves new Construction Bank head; Pan Pacific stitches up tender for largest stake in Vinaseed; Footwear exports fetch more than $1.1b; Unsold sugar inventory reaches nearly 460,000 tonnes

Hydropower-plant officials offered false promises, say lowlands residents

 VietNamNet Bridge – When they began to build a hydropower plant on Ba River, the investors promised that the plant would provide the lowlands with water and help ease floods. But they have backed away from their promises.

EVN says Vietnam still needs to buy electricity from China

 VietNamNet Bridge – Electricity of Vietnam (EVN), responding to the public’s severe criticism about electricity imports from China, said that the purchases were needed to ensure domestic demand.

Should Vietnam continue power subsidies?

 VietNamNet Bridge – Vietnamese enjoy the lowest electricity rates in the region. But they come at a cost.

Chinese-made transformers fail, cause power cuts in Hanoi

Two transformers, AT1 and AT2, of the Hiep Hoa 500KV transformer station in Bac Giang Province, failed to operate for one week in mid-May, affecting sufficient electricity output to the capital city of Hanoi.

EVN told to pay high for biomass-made electricity

 VietNamNet Bridge – The Electricity of Vietnam (EVN), the only electricity wholesale buyer, will buy power made from agricultural waste at 5.9 US cents per kwh, which is higher by 1.8 cents per kwh than the current average price.

EVN to replant 9,660 hectares of forest in hydropower projects

 VietNamNet Bridge – Vietnam Electricity Group (EVN) will have to replant around 9,660 hectares of forest to compensate for the areas of forest it has chopped down to make room for its hydropower plants.

PVN, EVN face ban on non-core investment

 VietNamNet Bridge – Vietnam Electricity Group (EVN) and Vietnam Oil and Gas Group (PVN) will be banned from investing in real estate, banking, insurance and stock market, said the Ministry of Finance.

BUSINESS IN BRIEF 3/3

 EVN to ensure stable power supply; Plan hoped to boost Central Highlands’ development; Trans-Pacific Partnership in the eyes of domestic insiders; Transport sector focuses on BOT, BT, PPP investment; Business licensing faces reform

BUSINESS IN BRIEF 26/2

 Investment deal agreed for petrochemical complex; Finance ministry moves to unpick business barriers; Russian investor eyes US$1 bln coal-use petrol plant; Exclusive S Korea complex planned

EVN to slash 98 mln USD from non-core ops

 VietNamNet Bridge – Electricity of Vietnam (EVN) plans to withdraw capital worth 2.07 trillion VND (97.64 million USD) from seven non-core companies by 2015.

Power industry faces competition test in 2016

 VietNamNet Bridge – The Ministry of Industry and Trade (MoIT) must finalise all conditions that will help develop the competitive power generation market (VCGM) and get it trial-ready by 2016.

EVN works to reduce losses

 VietNamNet Bridge – Facing capital shortages, Electricity Viet Nam (EVN) has asked national coal group Vinacomin and PetroVietnam to invest in power plants, EVN deputy general director Dinh Quang Tri tells Vnexpress.

Inspectors to get tough on corruption

 VietNamNet Bridge – The Government is committed to clamping down on corruption and strengthening the organisation and prosecution of big time cases in its bid to restore people’s trust.  

EVN flayed in inspection report

 VietNamNet Bridge – The Government Inspectorate last week announced numerous wrongdoings at the state-run Electricity of Vietnam, the country’s sole power distributor.

Admitting inconveniences, EVN still buys electricity from China

The Electricity of Vietnam (EVN) refuses to buy electricity from a lot of Vietnamese hydropower plants, but continues buying electricity from China, even though it admitted that the areas using Chinese power have unstable voltage.

BUSINESS IN BRIEF 7/1

 Dong Nai develops service area for int’l airport; 3G service fees likely to be hiked further; Lao Cai casino upgrades; Few takers for foreign currency loans; HCM City recalls 136 slow-moving projects

Big state owned corporations ask for bigger power

 VietNamNet Bridge – Having powerful financial capability and enjoying privileges as state owned enterprises, they still want more power, more capital and more privileges.

Loans to EVN put back-bending load on commercial banks

 VietNamNet Bridge – The Electricity of Vietnam (EVN) has become the biggest debtor of commercial banks with the total outstanding loans having reached VND144 trillion.

EVN power monopoly to be short-circuited

 VietNamNet Bridge – Deputy Prime Minister Hoang Trung Hai has pledged that Vietnam would continue to reduce the Electricity of Vietnam’s monopoly through the development of a competitive electricity market.