BIC to Provide $44.88M Insurance Services for Thai Trung Steel Plant
BIDV Insurance Co. (BIC), a subsidiary of the Bank for Investment and Development of Vietnam (BIDV), has inked a deal worth VND800 billion ($44.88 million) to provide insurance services for Thai Trung rolled steel plant in the northern province of Thai Nguyen.
The loan will mature 19 months.
Kicked off on July 19, Thai Trung rolled steel plant costs VND1.3 trillion ($76.923 million) and an annual capacity of producing 500,000 tons of rolled steel.
Once fully operated next November, the project is expected to employ 300 local workers and pay a yearly taxes of VND500 billion to the provincial budget. (Vietstock)
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