31 July 2002 – Vietnam is expected to sign a $4m contract with state-owned Ukranian company Ukrinternergo for the restoration of the Thac Ba Hydro-power Plant in northern Yen Bai province.

Ukraine’s newspaper “Day” recently praised the effective co-operation between Vietnam and Ukraine in the power industry, saying that Ukrinternergo enterprise has earned $94m from implementing projects in Vietnam over the past ten years. The enterprise can earn more if it invests in Vietnam’s power projects, it added.

Ukraine has helped Vietnam build the 720 MW Yaly hydro-electric power plant in the Central Highlands province of Gia Lai – the second largest hydro-power plant in Vietnam. This plant, equipped with Ukrainian equipment, was inaugurated last April.

Ukrinternergo will also bid for construction of the Sesan hydro-power plant 3 in Vietnam, the daily reported.

The paper said that the Ukraine-Vietnam co-operation for mutual benefit has also helped Ukraine develop valuable experience in competing with major companies in the world.