VinaCapital to Invest US$20Mln Exploit Construction Stone in Southern Vietnam
London-listed VinaCapital and Mien Dong Joint Stock Co signed a memorandum of understanding on developing construction stone exploitation project in Vietnam’s southern Binh Duong province.
VinaCapital Infrastructure Fund, which made its debut recently with total capital of US$402 million, is expected to invest about US$20 million into the project.
Covering a total area of 53.8ha, the project is expected to start exploiting stone ores with initial capacity of 17.5 cu meters.
“Via VNI, VinaCapital will focus on infrastructure, power, transport and irrigation and telecom projects in Vietnam, helping boost the country’s socioeconomic development,” Don Lam, general director of VinaCapital said.
VinaCapital will invest at least 70 per cent of its capital to develop infrastructure projects in Vietnam and at most 30 per cent to build same projects in neighboring countries with required IRR of over 20 per cent. (VNA, Vnexpress)
Vietnamese
