Czech to Lend US$3Bln to Vietnam Energy Projects
The Czech Export Bank (CEB) may provide Vietnam up to US$3 billion in commercial loans to implement energy projects, especially power stations, with Czech industrial group Skoda’s involvement, Saigon Times Daily reported.
Czech ambassador to Vietnam Ivo Zdarek made the announcement during a meeting in Ho Chi Minh City May 22 with municipal Party chief Le Thanh Hai.
Czech enterprises see opportunities for building and equipping new power stations in Vietnam, Zdarek said.
In response, Hai queried the foreign ambassador about interest rates and credit terms. However, these issues will be detailed during a forthcoming visit to the Czech Republic by Prime Minister Nguyen Tan Dung.
The two sides, including representatives from the Electricity of Vietnam Group (EVN) and Skoda, discussed a 300MW power plant project during the Vietnam visit by Czech President Vaclav Klaus last year.
In other news, South Korea's energy minister Kim Youngju May 22 met with Vietnam's deputy prime minister Nguyen Sinh Hung to discuss widening cooperation in the energy sector, South Korea's Ministry of Commerce, Industry and Energy said Tuesday.
Two-way trade between Vietnam and the Czech Republic remains modest, reaching US$160 million last year, of which US$120 million came from Vietnam’s exports.
Vietnam will need at least 17 million kWh of electricity daily, said an EVN official.
The country’s power sector needs VND636 trillion (US$39.75 billion) in total to develop the power infrastructure in 2006-2010, requiring about VND250 trillion (US$15.625 billion) to complete 25 power plants. (Saigon Times Daily,
www.nasdaq.com)
Vietnamese
