Vietnam News Agency reported that the Electricity of Viet Nam will borrow USD 3 billion from official development assistance sources and foreign commercial banks in order to finance electricity projects in 2012.

Lenders will include the World Bank, the German Reconstruction Bank, the Asian Development Bank, the French Development Agency and the Japan International Co operation Agency.

Funds will be used to complete the O Mon 3 and 4 thermoelectric projects, improve the national distribution grid and assist the electricity sector in reforming policy.

EVN's total capital expenditures this year are estimated to total about VND 75.5 trillion, an increase of 18.7% YoY. The investments will enable EVN to bring online eight turbine groups in four different projects with a combined capacity of 1,370 MW, as well as begin construction on four other projects with a total capacity of 2,390 MW.

EVN also has plans to complete 231 electrical grid projects of 110 to 500 kV and begin 60 other projects to build 220 to 500kV grid.

(Sourced from www.vietnamnews.vnagency.com.vn)