Power grid development in HN, HCM City approved
The PM has approved the financial mechanism of the Ha Noi and Ho Chi Minh City Power Grid Development Sector Project, which is sponsored by the Asian Development Bank (ADB) and the ASEAN Infrastructure Fund (AIF).
The project is financed through a 20-year loan worth of US$272.7 million with a grace period till March 15, 2020.
The Ha Noi Power Corporation and Ho Chi Minh City Power Corporation will be responsible for balancing and arranging 100% of the corresponding capital for the project.
The project, launched from 2014-2020 in Ha Noi and Ho Chi Minh City, will develop and upgrade substations, expand 110 kilovolt and 220 kilovolt transmission lines, and increase transformer capacity to ensure a smoother and more reliable supply and reduce outages caused by overloading.
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