Vietnam govt to guarantee US$35m loan for cement project

Vietnam govt to guarantee US$35m loan for cement project
Published: 20 May 2009

The Vietnamese government said Wednesday it has agreed to guarantee a loan from the Japan Bank for International Cooperation for Nghi Son Cement Corp. for a $240-million cement plant expansion project.

The government didn’t provide details about the loan, but the World Bank’s International Finance Corp said the loan will be worth US$35m.

The government said the loan will be used to fund a $240-million project to expand the company’s Nghi Son Cement Plant in Thanh Hoa province, 230 kilometers south of Hanoi.

The expansion will double the plant’s capacity to 4.3 million tons a year, the government said.

Source: Dow Jones International News