BNP Paribas, a French bank, and Viet Nam Construction and Machinery Installation Corporation (Lilama) signed a credit contract on importing equipment for Thang Long Cement Joint Stock Company project on Friday.
Under the contract, BNP Paribas will finance US$164.5m to the project including a cement plant in the northern province of Quang Ninh and a clinker grinding station in Hiep Phuoc Industrial Zone in Ho Chi Minh City, according to Lilama, one of two main contractors of the projects. The other is Ha Noi General Import-Export Company. The plant will have a total investment of VND5.2 billion ($346m) and a total capacity of 2.3Mt of cement per year, according to Lilama. The location of the plant, near Hai Phong seaport, will also create a favourable condition for transporting cement to the south.