EVN sells stakes in companies

• 8 years ago (2015-11-16)
• David Flin

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The Electricity of Vietnam (EVN) Group has announced that it has divested itself of a number of companies. These include: the sale of 40 million shares of An Binh Joint Stock Bank (ABBank); the sale of all its shares in An Binh Securities; and reducing its stake from 40 per cent to 15 per cent in EVN Finance. EVN has also said that it plans to fully divest from ABBank, and organise a public auction of its shares in the Global Joint Stock Corporation.

This has enabled EVN to finance three plans it has submitted to Vietnam’s Ministry of Industry and Trade, intended to ensure sufficient power supply for 2016.

EVN said that it would facilitate construction of key power projects, enhance maintenance of turbines, and improve people’s awareness on electricity savings. It asked the Ministry of Industry and Trade to instruct the Vietnam National Oil and Gas Group (PetroVietnam) to prioritise the supply of gas for power stations. EVN has also proposed that the Vietnam National Coal and Mineral Industries Group (Vinacomin) supply enough coal for the Cam Pha, Son Dong, Na Duong, Cao Ngan, and Mao Khe thermal power plants.