State electric company predicts power shortage Electrical workers upgrade the wire network in Hoa Cuong Ward, located in Hai Chau District, Da Nang. — VNA/VNS Photo Xuan Quang (02-03-2007) DA NANG—Viet Nam could face severe shortages of power this year due to prolonged drought caused by El Nino, a senior official from the Electricity of Viet Nam Corp (EVN) has said. During a meeting with Da Nang authorities on Wednesday, the chairman of EVN Management Board, Dao Van Hung, said the water level in hydropower reservoirs in the north was two metres lower than last year, resulting in a loss of some 600 million Kwh of power supply. Meanwhile, demand for electric power has increased sharply in the past two months. EVN anticipates an increase of 15 to 18 per cent in power demand this year, and in January the company reported an increase of 20 per cent compared with last year. Hung said the power used for industrial production rose by 23.9 per cent in January and … [Read more...] about State electric company predicts power shortage
Chhattisgarh state electricity board
Electricity industry seeks more investment capital
The industry needs a total investment of US$123.8 billion for the period 2011-30, $48.8 billion for 2011-20, and $75 billion for 2021-30.—VNA/VNS Photo HA NOI (Biz Hub)— Capital demand for building infrastructure of the electricity industry is increasing, but the industry still has difficulty in gaining access to it, stated Electricity of Viet Nam (EVN). According to the national electricity development plan for the period 2011-20, created by the Energy Institute under the Ministry of Industry and Trade, extended to consider the period up to 2030 as well, the industry needs a total investment of US$123.8 billion for the period 2011-30, $48.8 billion for 2011-20, and $75 billion for 2021-30. However, according to the latest calculations by the institute, the demand for capital for a power grid is on the rise because some electricity projects under the plan require more capital for the development to meet the demand for electricity in Ha Noi, HCM City, and for the 500-KV … [Read more...] about Electricity industry seeks more investment capital
State electricity giant appoint politician as new chairman
The Prime Minister has appointed the Deputy Minister of Industry and Trade as the Electricity of Vietnam Group's chairman from September 14. The transition was discussed at the press conference on July 31. Hoang Quoc Vuong resigned from being Deputy Minister of Industry and Trade to take over the new position. Chairman of the Government Office Vu Duc Dam affirmed the move was an important decision for the whole sector. He further said the transition from government officer to a chairman was not an abnormal move. The former MoIT Deputy Minister had responsibility to manage the electricity sector, the Electricity Regulatory Authority of Vietnam, Agency for Industrial Promotion and the Agency for Industrial Safety Techniques and Environment. He and the Minister of Industry and Trade have been directly responsible for managing the EVN group. Hoang Quoc Vuong is set to replace former EVN Chairman Dao Van Hung, who was dismissed in early 2012 due to weak management and losses from various … [Read more...] about State electricity giant appoint politician as new chairman
State firms equitise, but delay going public
After postponing it for several years, Sai Gon Alcohol, Beer and Beverage Corporation (Sabeco) is finally likely to go public this year following the Government's urgent call to divest shares in large State-owned enterprises in which it does not need to hold controlling stakes. On October 5 Sabeco's executive board made an announcement at a shareholders' meeting to get opinions about a proposal to list the company's shares on the HCM Stock Exchange (HOSE) this year. If approved by the shareholders, Sabeco will likely make an initial public offering (IPO) this year. At the annual shareholders meeting in May many shareholders asked the chairman why the company had postponed listing its shares on the stock market, which it should have done nine years ago after the company was equitised. Not only Sabeco but also many other major companies face a similar situation after failing to go public several times. Among them is Sabeco's northern peer, Ha Noi Beer Alcohol and Beverage Corporation … [Read more...] about State firms equitise, but delay going public
State firms equitise, but fail to go public
After postponing it for several years, Sài Gòn Alcohol, Beer and Beverage Corporation (Sabeco) is finally likely to go public this year following the Government's urgent call to divest shares in large State-owned enterprises in which it does not need to hold controlling stakes. On October 5 Sabeco's executive board made an announcement at a shareholders' meeting to get opinions about a proposal to list the company's shares on the HCM Stock Exchange (HOSE) this year. If approved by the shareholders, Sabeco will likely make an initial public offering (IPO) this year. At the annual shareholders meeting in May many shareholders asked the chairman why the company had postponed listing its shares on the stock market, which it should have done nine years ago after the company was equitised. Not only Sabeco but also many other major companies face a similar situation after failing to go public several times. Among them is Sabeco's northern peer, Hà Nội Beer Alcohol and Beverage … [Read more...] about State firms equitise, but fail to go public