Vietinbank funds over 2.2tr dong for Lao Cai steel project

Vietinbank-Lao Cai Branch on June 13 signed a credit agreement with Viet Trung Mineral and Metal Refining Co to provide credit for Lao Cai steel project.
The project is estimated to cost 2.242 trillion dong. The first phase has a designed capacity of 500,000 tons of steel billet a year and total investment capital of $307 million, which is expected to complete by late 2012.

Once being operational, the plant will create more than 7 trillion dong a year and contribute 700 billion dong/year to the state budget.

For the second phase from 2012 to 2015, the plant will be raised to one million tons a year. – Vietbiz24

Tags: Lao Cai steel project, Vietinbank, Vietnam banking industry, Vietnam finance, Vietnam financial

Posted by VBN on Jun 14 2011. Filed under Banking-Finance, Steel. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry