CMSC recommends State keep 100% capital in EVN
The Commission for Management of State Capital at Enterprises (CMSC) has submitted to the Prime Minister for approval the restructuring proposal for the Electricity of Vietnam (EVN) for the 2021-2025 period.
The project aims to develop EVN into a strong, sustainable, efficient and profitable economic group. The scheme plans to reorganize the parent company and State capital rates at member units.
The CMSC proposed approving the list of EVN’s subsidiaries that are subject to re-structuring and capital disinvestment in the 2021-2025 period.
Accordingly, the parent company EVN would continue to be a one-member limited liability company with 100% charter capital held by the State.
The subsidiaries that maintain their organization, operating mechanism include 15 units: Son La Hydropower Company; Hoa Binh Hydropower Company; Ialy Hydropower Company; Tri An Hydropower Company; Tuyen Quang Hydropower Company; Se San Hydropower Development Company; Huoi Quang - Ban Chat Hydropower Company; Power Project Management Boards 1, 2, 3; EVN Construction Investment and Technology Project Management Board; Electricity Trading Company; EVN Telecommunications, Electricity and Information Technology Company; EVN Repair Service Center; and Electricity Information Center.
The subsidiaries with 100% of charter capital held by EVN are: National Power Transmission Corporation; Northern Power Corporation; Central Power Corporation; Southern Power Corporation; Hanoi Electricity Corporation; Ho Chi Minh City Electricity Corporation; Thu Duc Thermal Power One Member Limited Liability Company.
In addition, the project provides a roadmap for the establishment of the National Electricity System and Market Operation One Member Limited Liability Company and termination of the National Power Load Dispatch Center.
According to the CMSC, EVN’s proposal to establish a one-member limited liability company is to meet the restructuring of the electricity industry to serve the competitive electricity retail market in Vietnam and to comply with the Prime Minister’s instruction.
The enterprises where EVN owns less than 50% of charter capital are the Power Construction Consulting Joint Stock Company 3; Dong Anh Electrical Equipment Corporation; and Vinh Tan Energy Joint Stock Company 3.
