Vietinbank Finances VND700bn for Vietnam plant

Vietinbank Finances VND700bn for Vietnam plant
Published: 29 September 2009

Vietnam Joint Sock Bank for Industry and Trade (VietinBank) has inked a deal to finance VND700 billion ($39.23 million) for ROLI Investment JSC’ underway cement plant in the central province of Quang Tri, the Vietnam News Agency reported Sept 25.

Vietinbank’ Quang Tri, Thua Thien Hue and Nam Sai Gon branches and ROLI company signed the 10-year lending deal on Sept 24.

Kicked off on June 26 in Cam Lo district, the plant will have an annual production capacity of nearly 1.2 million tons of cement once fully operated.

ROLI said it will inject VND1 trillion ($59.171 million) into the plant’ the first phase, which is expected to last 18 months and start operation in the first quarter of 2011.