Approving project on reconstructing Electricity of Vietnam

Approving project on reconstructing Electricity of Vietnam - 

The Prime Minister has just approved the project on overall arrangement and restructure of enterprises under Electricity of Vietnam (EVN) in 2017 – 2020 period. 

The target of the project is to make EVN into a strong economic group with a modern technological, managerial and high specialized level; improved labor productivity; effective and sustainable activities; playing a leading role in meeting electricity supply for socio-economic development, guaranteeing energy and defence security of the country, and a core force for promoting Vietnam electricity industry developed rapidly and sustainably, competed and internationally integrated effectively.

The main activities of EVN are: electricity generation, transmission, distribution and business; managing and operating national power system; electricity export and import; investment and capital management of power projects; managing, operating, maintaining, improving and upgrading electrical, mechanical, control and automatic equipment in power system; electrical experiments; consultancy works for managing, surveying, designing, estimate establishing, bidding and supervising power projects.

According to the restructuring project, EVN as the parent company is continuously still a single member company Ltd with 100% of charter capital held by state.

The units which maintain their organization, operating mechanism and to be under EVN include: hydropower companies: Son la, Hoa Binh, Ialy, Tri An, Tuyen Quang (In Announcement No 150/TB-VPCP on 21/3/2017, The Prime Minister assigns the Ministry of Industry and Trade to assume the prime responsibility and coordinate with the concerned ministries, agencies and EVN in studying the equitization plans with the dominant state shares to report to the Prime Minister), Huoi Quang-Ban Chat; Sesan hydropower development company; hydropower project management boards No1,5,6 and No4 (will terminate its operation after finalizing the projects); management boards of Son La hydropower plant, Ninh Thuan nuclear power plant (EVN will decide to change the name for suiting the new tasks of the board) and thermal power project No2; EVN construction investment and technology management board; Electricity power trade company; Information and telecommunications technology company; and Power information center.

The enterprises with100% of EVN charter capital are: National Power Transmission Corporation; Power Corporations of the North, Center, South, Hanoi city and Ho Chi Minh city and National Power System Dispatching Center (will be transformed into Single Member Company Ltd in 2019-2020 by Decision No168/QĐ-TTg)

The enterprises with 50% of EVN charter capital are Power Engineering Consultant Joint Stock Companies (PECC) No1 and No2

Implementing equitization of GENCOs No1, No2 and No3 (with 51% of EVN charter capital up to 2019 and in 2020 will consider to divest the state capital down below the dominant level)

Vinh Tan 3 Energy Joint Stock Company will divest capital after the completion of Vinh Tan 3 thermal power plant

EVN to carry out divesting the whole capitals from the following enterprises: Power Finance Joint Stock Company, Thu Duc Electromechanical Joint Stock Company, Dong Anh Power Equipment Corporation – Joint Stock Company, Binh Thuan Wind Power Joint Stock Company, PECC No3 and No4.

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