Taiwanese Bank, Vietcombank loan for cement project

Taiwanese Bank, Vietcombank loan for cement project
Published: 14 April 2009

Taiwan’s Mega International Commercial Bank Co.’s branch in Ho Chi Minh City and the Joint Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, have signed a contract to provide a US$73m syndicated loan for the expansion of a cement plant, report Dow Jones.

The loan, made to Phuc Son Cement Co, will be used to double the capacity of Phuc Son Cement Plant in Hai Duong province to 4Mta year, the State Bank of Vietnam said Friday.

The expansion, which will cost US$105m in total, is scheduled for completion by July, the central bank said in a statement.

Phuc Son Cement Co. is a joint venture between Taiwan’s Lucky Cement Co and Vietnam’s Hai Duong Cement Co