French banks fund equipment imports

French banks fund equipment imports
Published: 25 October 2004

Sociéte General SG and BNP Paribas of France yesterday signed a credit agreement with the Vietnam Construction Im-Export Corporation (Vinaconex) in Hanoi to finance equipment imports for the first phase of the Cam Pha Cement Plant, currently the largest cement project in Vietnam, State media said.  The two banks will lend Vinaconex about $150m within ten years, including a grace period of three years, to fund the imports of equipment for the plant in northern Quang Ninh province.
The Cam Pha Cement Plant will be built in the near future by Vinaconex with total investment of VND4,739 billion ($301.8m). The plant is designed to have capacity of 2.3Mta of cement.