Agribank to pour funds into cement plant construction

Agribank to pour funds into cement plant construction
Published: 03 October 2006

Construction of Dong Banh cement plant will begin in mid-October, after a VND308 billion (over US$19m) credit loan agreement was signed by Dong Banh Cement Joint-stock Company and the Bank for Agriculture and Rural Development’s branch in Lang Son Province.

The plant, with a total investment of VND1.3 trillion ($81.3m) and owned by Dong Banh Company will be located in Chi Lang town, in the northern province of Lang Son’s Chi Lang District, according to the company’s general director, Pham Quoc Khanh.

He said the efforts of the company and share holders meant investment capital had been well arranged to allow for construction of the plant to begin in mid-October.

The plant has a design capacity of 2,500 tonnes of clinker per day to produce 910,000 tonnes of cement a year. Under the design, the plant’s production capacity will reach 75 per cent in the first phase, 85 per cent in the second phase and 100 per cent in its third year.