Govt guarantees French loan for Song Thao cement project
The Prime Minister has given the Ministry of Finance permission to provide a guarantee for a VND1.5 trillion ($93.75m) loan to finance the ongoing construction of Song Thao cement plant in northern Phu Tho province.
The loan comes from the French-based PNB Paribas.
The project’s investors are the Housing and Urban Development Corp., Vietnam Machinery Installation Corp. and Phu Tho Cement Co.
Vietnam’s cement industry will need $3.4bn of investment capital to satisfy burgeoning demand for cement by 2010.
Currently, some 30 cement projects with a total capacity of 35Mt are being carried out in the country.
Vietnam is estimated to need 35.6Mt of cement this year. Last year, the national demand for cement reached 32.5Mt.
Published under Cement News
