According to the approved report, the final adjusted total investment for the project exceeds 9.7 trillion VND, an increase of over 272 billion VND compared to the 9.4 trillion VND approved by the 2019 Shareholders’ Meeting.
Regarding the adjustment reasons, VSH stated that the project faced delays due to objective geological factors such as faults, groundwater, and sinkholes. While major cost items like construction and land clearance compensation decreased by 175 billion VND and 75 billion VND respectively, financial costs significantly drove the total investment upward.
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Adjusted Cost Items in the Total Investment of Upper Kon Tum Hydropower Plant
Source: VSH
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Specifically, interest expenses during construction rose by 612 billion VND, from nearly 1.8 trillion VND to almost 2.4 trillion VND (a 33% increase). This was the primary reason for the total investment increase, despite savings in other areas and a 75.6 billion VND reduction in contingency costs.
VSH announced that the Upper Kon Tum Hydropower Plant officially completed and began operating two turbines in April 2021. The company confirmed the project’s efficient operation, emphasizing that approving the new total investment is a crucial legal step to finalize the investment phase, transition to operation, and settle the entire project.
– 3:15 PM, December 22, 2025
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