EVN needs $5b/yr for electricity project development

News - Electricity of Vietnam (EVN) has lately said that in the next five years, the group needs up to 514 trillion dong (nearly $25 billion) to develop electricity projects. Thus, each year, the group would need about $5 billion for its electricity project development.

In its plan report in 2012 and 2011-2015 period, EVN offered some proposals whereby the group will have to ensure gasoline enough supply for electricity production and the electricity prices must ensure financial health.

EVN's plan in 2012 is to put into operations 2,300 MW of new electricity sources and electricity output in 2012 is expected at 121.7 billion kWh.

EVN said that currently, the group has to suffer 300 dong loss for one kWh electricity, together with the loss of 10.162 trillion dong in 2010 and estimated loss of 3.5 trillion dong in 2011, the group will be very hard to raise capital.