Vietcombank and EVN representatives sign a comprehensive co-operation agreement on Thursday. — Photo Vietcombank

HA NOI (Biz Hub) ― Vietcombank and the Electricity of Viet Nam (EVN) signed a comprehensive co-operation agreement on Thursday, thereby laying the foundation for future ties for them and their affiliated companies.

Bank chairman Nguyen Hoa Binh said his organisation considered EVN a traditional partner, and closer ties between the two major State-owned enterprises would benefit the nation's socio-economic development.

Vietcombank has so far pledged and financed nearly VND38 trillion, or US$1.81 billion, for various EVN activities such as electricity generation, transmission and distribution projects.

These projects include the Son La, Lai Chau, Pleikrong, Srepok 3, Dong Nai 3 and Dong Nai 4 hydroelectric plants; the 500kV Son La – Lai Chau transmission line; and the Phu My 2.1 and Vinh Tan 4 thermo-electric projects.

"The agreement is an important step forward… It asserts Vietcombank's commitment to long-term support for EVN, as well as the electrical energy industry," the bank said in a news report.

EVN board chairman Hoang Quoc Vuong said banks had played an important role in helping the company develop many key projects, which were assigned by the Government to the national economy.

On Thursday, Vietcombank's head office and Ha Noi branch also inked similar agreements with two EVN affiliates: EVN Ha Noi and the Power Generation Corporation 1. ― VNS