Thang Long Cement obtains loans from foreign lenders

Thang Long Cement obtains loans from foreign lenders
Published: 31 January 2008

Thang Long Cement Joint-Stock Co. 2 has obtained three loans totaling US$240m from  ANZ Banking Group,  BNP Paribas and Societe Generale, which will be used to finance the company’s production facilities.  
 
The loans equally funded by the three lenders will partly finance the construction of a cement plant in the northern province of Quang Ninh and a grinding plant in Hiep Phuong Industrial Zone in HCMC. 
 
The Quang Ninh cement plant is estimated to produce 6,000 tons of clinker per day, or two million tons per year. The total annual cement output of both plants will be some 2.3 million tons once in place.  
 
The total cost of the two plants is US$300m, covering the implementation of the Engineering-Procurement-Construction (EPC) contract and interest of the loans.  
 
Early this month, ANZ and Calyon provided loans of a combined US$96.4 million for Ha Tien 2 Cement Co. to build a new plant next to its current one in the Mekong Delta province of Kien Giang. ANZ and Calyon each made half the amount.  
 
Ha Tien 2 Cement will build a new clinker production line with a maximum designed capacity of 1.26 million tons per year besides a cement grinding and packaging plant of 600,000 tons of PCB40 cement per year.  
 
The project has US$190 million in total investment. Construction on it is slated to start in the second quarter of this year for completion after 39 months.  
 
Ha Tien 2 Cement now has a two-line factory that turns out 1.2Mt of clinker and 1Mta of cement.