PM approves EVN's capital increase

Wednesday, Mar 18, 2015 18:13

EVN engineers maintain facilities. The company received PM's approval to increase equity. — Photo

HA NOI (Biz Hub) — Prime Minister Nguyen Tan Dung has approved a plan to raise Electricity of Viet Nam's (EVN's) charter capital to VND160 trillion (US$7.62 billion) by the end of 2015.

The company's equity was last defined at more than VND143.4 trillion ($6.83 billion) at the end of 2012. The supplemented capital will come from various sources including development funds, construction project balances and State finances.

Dung assigned the ministries of Industry and Trade and Finance to provide specific guidelines for the implementation of the plan.

The State-run EVN specialises in producing, transmitting and trading electricity, besides managing the national grid, power import-export and electric work operations. — VNS

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