Three foreign banks provide credits for cement plant

Three foreign banks provide credits for cement plant
Published: 31 January 2008

French banks Societe Generale and BNP Paribas and the Australian and New Zealand Bank (ANZ) signed a contract on Jan. 30 to jointly provide credits worth US$240m to the Thang Long 2 Cement Plant project.  
 
The construction of the US$310m will start in the second quarter of this year and is expected to be completed in the third quarter of 2010.  
 
The Thang Long 2 Cement Plant has an annual designed capacity of 1.89Mt of clinker and 2.3Mta of cement. It will build production facilities in northern coastal Quang Ninh province and the Hiep Phuoc industrial zone in HCM City .  
 
Societe Generale Viet Nam representative Maurice Nhan said the bank will consider further credits to infrastructure projects to be carried out within this year and to export activities.