ACB lends VND400bn to Hoang Thach Cement

ACB lends VND400bn to Hoang Thach Cement
Published: 25 February 2009

Asia Commercial Bank (ACB) yesterday inked a deal in Hai Duong Province to lend VND400bn to Hoang Thach Cement Company to develop its third cement production line.

The loan term is 84 months. ACB in its statement said that the bank would immediately disburse capital for the cement company to cover part of the cost.

Hoang Thach Cement’s third production line, whose construction started in 2005 with a designed capacity of 1.06Mt of clinker and 1.35Mta of cement, will come on stream in the third quarter this year. Total investment capital for the project is VND2.46 trillion.

Hoang Thach Co., a member of Vietnam Cement Industry Corporation, now operates two production lines with a combined capacity of 2.3Mta of cement.