PetroVietnam has taken over the O Mon III and IV gas-fired power plants after a recent decision promulgated by Can Tho People’s Committee.
According to Decision No.2093/QD-UBND and No.2094/QD-UBND from Can Tho People’s Committee, Vietnam Electricity (EVN) will hand over the two projects to PetroVietnam and collaborate with the new investor to complete the investment procedures.
PetroVietnam will oversee the construction of the two projects and ensure the nation benefits to the fullest.
PetroVietnam is responsible for implementing the transfer of investors to ensure the relevant legal regulations are met. It needs to carry out procedures in accordance with the Law on Investment.
EVN and PetroVietnam are both responsible for the usage of state capital at enterprises according to the provisions of the current law.
Can Tho People's Committee is not responsible for the transfer of public assets resulting from the change in investors.
O Mon III has an investment of VND25.2 trillion ($1.1 billion), of which VND9.93 trillion ($431.7 million) is reciprocal capital from EVN. The other 60 per cent is set to be sourced from Japanese official development assistance.
O Mon IV has a total investment of VND30 trillion ($1.3 billion), 20 per cent of which is self-arranged capital from EVN and 80 per cent comes from non-governmental guaranteed commercial loans.
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