Eltel’s Power Transmission business unit has won a multi million euro contract with Northern Power Corporation, NPC, in Vietnam. The new contract is continuation to Eltel’s earlier project in Vietnam in 2004−2005.
The scope of supply is materials for power distribution networks, this time in four provinces in the vicinity of Hanoi. Installations will be carried out by the power utility itself.
The winning formula for Eltel was our previous reference in Vietnam, experience in project delivery and a comprehensive financing package. Eltel arranged the financing through Finnish Concessional Credit Scheme, where BNP Paribas / Fortis extended the loan to the Government of Vietnam while Finnish Foreign Ministry provided the interest subsidy and Finnvera provided guarantees.
Eltel will source the materials in Finland and Vietnam, and a minority part in third countries. The project delivery for Eltel’s part will take place in 2012.
More information:
Antti Lassila, Director, Export Finland
Tel. +358 40 311 4583, antti.lassila@eltelnetworks.com