News Feed

EU Firms Show Interest in build-operate-transfer (BOT) electricity generation projects in Vietnam

Posted on : 05 May, 2009

 

Companies from the European Union (EU), speaking at a meeting in Hanoi on Monday with the Ministry of Industry and Trade, expressed keen interest in build-operate-transfer (BOT) electricity generation projects in the country.

Erdal Elver, chief executive officer of Siemens Ltd. Vietnam, and representatives of 30 EU enterprises asked for more information about BOT projects and bidding procedure reforms for quickened project implementation.

The Government has made efforts to foster a competitive energy market in Vietnam, Elver said, and the improvements have helped push up Nghi Son 2 thermo power project.

The participating firms also asked the ministry to announce power projects so that investors can consider them.

The output capacity of Vietnam’s electricity industry was designed to be 15,000 megawatts last year and is expected to rise to 18,500 megawatts this year thanks to the launching of new power stations, said Minister of Industry and Trade Vu Huy Hoang.

“The risk of power shortfall has prompted the Government to speed up power projects and open up the market (to the private sector),” he said. This policy is aimed at reducing the supply and demand imbalance within the next two years.

Companies from the EU have pledged nearly US$12 billion in nearly 770 power, infrastructure and financial projects in the country.

 

Source: VNBusinessNews.com Apr 29 2009. Location: Vietnam

 

For more details on the Vietnamese government incentives for private power project developers, attend the Mekong Power Summit, 4-5 June 2009, Ho Chi Minh, and hear from Mr. Le Tuan Phong from Ministry of Industry and Trade.