HCM CITY (Biz Hub) — Electricity of Viet Nam subsidiary Southern Power Corporation (EVNSPC) and the Siemens Consortium signed a US$15 million contract on Friday to install an electricity management system by September 2016.

"The system will help our company improve the efficiency and reliability of the distribution network in 21 provinces and cities in the southern region of the nation, thus contributing to regional economic development," said EVNSPC president Nguyen Thanh Duy. "The unmanned substations will help us save costs by using labour more efficiently."

Siemens Vietnam president Pham Thai Lai said the project would pave the way for four similar projects that will be implemented in the near future.

The Siemens Consortium includes Siemens AG, Power Automation (a joint venture between Siemens and Power Singapore) and Siemens Limited Viet Nam. The contract was awarded in connection with the World Bank-funded Distribution Efficiency Project. — VNS