The corporation (EVNNPT) worked with Vietcombank, VietinBank, BIDV, ACB, VIB, and Bank of China-Ho Chi Minh City branch to arrange the loans.

Vu Tran Nguyen, deputy general director, said the company was completing investment procedures to submit to the authorities for approval, as it is an urgent and key project and it needs to mobilise a large loan.

Bank representatives said that during the past years, they cooperated closely with the electric sector and the National Power Transmission Corporation to arrange capital for power projects. Thus, they are willing to collaborate with the company to provide loans, contributing to ensuring the country’s energy security.

Phase 3 of the Quang Trach-Pho Noi 500kV transmission line project includes 4 projects of 500kV transmission lines with an investment of nearly $1 billion.

These lines combine Quang Trach-Quynh Luu, Quynh Luu-Thanh Hoa, Nam Dinh I-Thanh Hoa, Nam Dinh I-Pho Noi. This is a transmission grid project playing an important and urgent role, which and needs to be implemented promptly and put into operation as soon as possible to contribute to ensuring power supply for the north.

As of August, the Ministry of Planning and Investment sent documents to other ministries and localities to collect opinions about Nam Dinh I – Pho Noi and Nam Dinh I – Thanh Hoa lines, and submit to the prime minister.

The MPI has also reported the appraisal result for approving the investment planning of the Quang Trach-Quynh Luu and Quynh Luu-Thanh Hoa lines.