Electricity of Vietnam (EVN) has signed a credit contract worth ¥7.74 billion ($66 million) with the Japan Bank for International Cooperation (JBIC) for the construction of the $650 million, 600 MW Hai Phong thermal power plant.
In other news, EVN has presented a new 2006-2008 electricity pricing plan to the Ministry of Industry for consideration prior to government approval.
Under the terms of the plan, power prices for domestic and some commercial consumers will rise by close to 15% from VND782/kWh (¢4.9/kWh) to at least VND898/kWh (¢5.6/kWh). Tariffs for large industrial and manufacturing consumers are to remain unchanged.
The tariff hike is being mooted in response to rising global energy prices and the requirement for massive investment in generation and distribution.