The Vietnam Electricity (EVN), the country’s sole power distributor, will start upgrading a hydropower project in Vietnam’s southern province of Binh Phuoc, which received $57.7 million in funding from the Japan International Cooperation Agency (JICA). The amount of money, which accounts for 85% of the total investment of VND1.5 trillion ($71.4 million), will enable EVN to raise the capacity of Thac Mo Hydropower Plant to 225 MW from the current 150 MW. The upgrading, which will take three years, will enable the plant to supply more electricity to the southern province of Dong Nai, which is home to many industrial parks. In an effort to speed up investment in power projects, Vietnam uses official development assistance (ODA) and loans from foreign countries as well as asks local banks to arrange capital for the power sector. (Thoi Bao Kinh Te Viet Nam – Vietnam Economic Times July 4 p3)
