Vietnam Govt Guarantees Foreign Loans for Dong Banh Cement Project
Vietnamese Prime Minister Nguyen Tan Dung has approved letters of guarantee for Dong Banh cement project to borrow from the Hanoi-based ANZ branch, Ho Chi Minh City-based Fortis Banque France SA and Bangkok Bank branches, the Dau Tu newspaper said.
The Ministry of Finance will act on behalf of the government to underwrite the loans, the Dau Tu newspaper reported.
The Dong Banh cement plant, to be built in northern Lang Son province, is estimated to cost roughly VND1.3 trillion (US$81.25 million).
The plant is scheduled to go on stream in the third quarter this year to turn out 2,500 tons of clinker a day, or 910,000 tons of cement a year. (Investment)
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