Four Vietnam banks lend VND250Bln to DANA-Y steel project

Four Vietnam banks have signed credit deals totaling VND250 billion ($12.83 million) for the second phase of a steel project invested by DANA-Y Steel Joint Stock Company (DNY) in the central city of Danang.

The lenders are Vietnam Bank for Agriculture and Rural Development (Agribank), Ho Chi Minh City Housing Development Commercial JS Bank (HDBank), Global Petro Commercial Joint Stock Bank (GPbank), Vietnam Commer- cial JS Bank for Industry and Trade (Vietinbank).

The second phase of Dana-Y steel plant is scheduled to start operation in the second quarter of 2011, the Dau tu newspaper reported Friday.

DANA-Y Steel JSC, listed on the Hanoi Stock Exchange, made a net profit of VND32.81 billion ($1.72 million) in the first half of this year, surging 114.54% from a year earlier.

DNY, the biggest steel firm in Vietnam’s central region, targets a net profit of VND87 billion on revenues of VND914 billion in 2010. – Stoxplus.com

Tags: Dana-Y Steel, Vietnam steel industry, Vietnam steel market

Posted by VBN on Aug 24 2010. Filed under Steel. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry