The Electricity of Vietnam (EVN) plans to issue an additional VND600 billion (US$37.5 million) in bonds in late July or early August.

According to EVN, these five-year bonds will be listed at the Hanoi Securities Centre with an interest rate of 9.6 percent per year.

Of the money, VND140 billion will be used for building the Son La Hydroelectric Power Plant, VND80 billion for the Tuyen Quang Hydroelectric Power Plant, VND150 billion for the Song Trang 2 Hydroelectric Power Plant and VND170 billion for the Phu My 4 Thermoelectric Power Plant.

The remaining capital of VND60 billion will be invested in the Quang Ninh-Thuong Tin 500kV transmission line and the Quang Ninh 500 kV station.

To meet its demand for capital, as set in the 2001-2010 electricity development plan, EVN will annually issue VND2-3 trillion (US$125-187 million) in domestic bonds and US$500 million in international bonds between now and 2010.

The corporation since 2005 has conducted three domestic bond issuances with a total amount of over VND1 trillion (US$65.6 million).

VNA