EVN and Vietcombank sign $211 million credit agreement for 500 kV Lào Cai – Vĩnh Yên transmission line project

EVN and Vietcombank sign $211 million credit agreement for 500 kV Lào Cai – Vĩnh Yên transmission line project

The credit facility is valued at VNĐ5.4 trillion (US$211.6 million) and will be disbursed over a period of two years, with a loan tenure of 15 years.

The signing ceremony between EVN and Vietcombank on March 10. —  Photo vneconomy.vn

The Vietnam Electricity (EVN) and the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) signed a credit agreement for a 500kV Lào Cai – Vĩnh Yên transmission line project on March 10 in Hà Nội.

The credit facility is valued at VNĐ5.4 trillion (US$211.6 million) and will be disbursed over a period of two years, with a loan tenure of 15 years.

The 500kV Lào Cai – Vĩnh Yên transmission line project is a nationally significant energy infrastructure project approved by the Prime Minister under Decision No. 1274/QĐ-TTg on October 26, 2024.

This dual-circuit transmission line spans approximately 229.5km and includes 468 transmission tower foundations traversing the provinces of Lào Cai, Yên Bái, Phú Thọ and Vĩnh Phúc.

The project is expected to be completed and operational by September 2, 2025. The total investment is over VNĐ7.41 trillion, with 80 per cent funded through Vietcombank loans and 20 per cent covered by EVN’s equity capital.

Once operational, the Lào Cai – Vĩnh Yên transmission line will have a transmission capacity of 2,000 – 3,000MW, enabling power flow from hydropower plants in the northwest region and surrounding provinces into the national grid.

Additionally, the project will enhance interregional connectivity, improve national grid stability and operational safety, reduce energy losses in transmission and increase EVN’s business efficiency. 

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