Of the amount, the EVNNPT provides over VND282.2 billion (US$13.4 million), while the Viet Capital Commercial Joint Stock Bank offers VND300 billion (US$14,300) in loan under a contract which was signed in the central city of Da Nang on October 30.
The rest will be funded by the Bank for Investment and Development of Vietnam (BIDV).
The project’s construction is set to start in November, with the 220kV transmission lines scheduled to be completed by the end of 2014 and the transformer station by mid-2015.
Kon Tum province currently relies on only one 110kV transmission line for power, which has been operational for more than 15 years. Any breakdown on this line means the province will be cut off from the national power grid. The new 220kV network will help fix this problem, while allowing local hydro-electric power plants to sell their electricity to the national grid.
In addition, the network will be connected to the 220-500kV transmission network in the Central Highlands and the 500kV transmission line from Laos to Vietnam (the Hatxan-Pleiku line), contributing to accelerating ASEAN power connectivity.
