Techcombank Finances Coke Production Project

On July 2, 2009 in Hanoi, the Vietnam Technological and Commercial Joint Stock Bank (Techcombank), the PetroVietnam Finance Joint Stock Corporation (PVFC), the Vietnam Chemical Finance Joint Stock Company (VCFC), and Ocean Commercial Joint Stock Bank (Oceanbank) signed contracts to provide medium and long-term loans for coke production factory project invested by Hoa Phat Energy Joint Stock Company, which was formerly Hiep Son Energy Joint Stock Company.

 

According to the contracts, Techcombank will be the main lender while PVFC, VCFC and Oceanbank will be co-sponsors.

 

The coke factory, located in Hiep Son commune, Kinh Mon district, Hai Duong province, will manufacture 350,000 tonnes a year.

 

The total lending value is VND600 billion which is to be disbursed in six years. The fund will go to factory construction, machinery, equipment and other expenses.

 

When the project is completed, it will supply coke for Hoa Phat steel and iron complex and several steel laminating plans throughout the nation.