The Song Thao Cement Joint Stock Company signed a VND370 billion (US$23 million) credit agreement with two Vietnamese banks for the construction of the Song Thao cement factory.
The Bank for Agricultural and Rural Development (Agribank) accounted for VND250 billion ($15.6m) of the figure while Bank for Investment and Development of Viet Nam (BIDV) accounted for 120 billion ($7.4m).
The factory is planned to have a production capacity of 2500tpd of clinker per day with total capital of VND 1,481bn ($92.7m) invested by the Housing and Urban Development Corporation, Phu Tho Cement Limestone Co and the Viet Nam Machinery Installation Corporation.
