France pledges over $100 mln to Vietnam power grid

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French government will grant a credit of 75 million Euros (US$100.21 million) for a project to build a 500kV electricity transmission line in Vietnam, according to the government's website.

The loan will be provided through French Development Agency under an agreement signed by Yamina Benguigui, Minister Delegate for Francophony and Vietnamese Deputy Finance Minister Truong Chi Trung on February 7.

Dang Phan Tuong, board chairman of National Power Transmission Corporation, the investor, said in the website that the line will transmit power from the central region where many hydropower plants with large capacities are located to the southern region with the high demand.

It was slated to go into operation this year end, and will also enable the import of electricity from Laos and Cambodia.

The line, officially known as 500kV Pleiku My Phuoc Cau Bong line, is 437 kilometers long and goes through five provinces and Ho Chi Minh City, Tuong said.

So far AFD's has pledged 1.38 trillion Euros ($1.84 trillion) for 69 projects in Vietnam, according to the news report.

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