Czech Export Bank to co-finance Vietnam’s industrial projects

Czech Export Bank to co-finance Vietnam’s industrial projects
Published: 03 October 2006

The Czech Export Bank (CEB) will bankroll 60 per cent of the total investment of US$1.7 bn to Vietnam’s Phu Son Cement Plant project and seven other projects in energy, construction material and food processing industries.  
 
CEB and the Bank for Investment and Development of Vietnam (BIDV) signed in Hanoi on Sept. 29 a contract to co-finance the Phu Son project and a memorandum of understanding on investment in seven potential projects.  
 
BIDV General Director Tran Bac Ha said the Phu Son Cement Plant will be built in northern Ninh Binh province at a cost of US$126.7m, to which CEB will provide 60 per cent in equipment to be imported from the Czech Republic.  
 
Five among seven potential projects are to build a cement plant in northern Ha Nam province, hydro-electric power plants in northwestern Son La province, central Quang Nam province and central highlands Lam Dong province, and a thermo-electric power plant in central Ha Tinh province. Two other projects are for the transfer of Czech’s beer production technology and establishment of a joint-stock company to manufacture hydro-electric turbines.  
 
The signing of these documents took place during a Vietnam official visit by the Czech Republic’s President, Vaclav Klaus.