Maritime Bank, BIDV Co-Fund US$6.36Mln Ship Building Project

Maritime Bank, BIDV Co-Fund US$6.36Mln Ship Building Project

The Vietnam Maritime Commercial Joint Stock Bank Hanoi Branch and the State-run Bank for Investment and Development of Vietnam (BIDV) on November 23 jointly signed a sponsorship deal and a credit agreement in Hanoi to lend Ha Long Shipyard VND100 billion (US$6.36 million) to build 12,500-DWT vessels.

The joint credit deal between the banks of Maritime Bank’s Hanoi branch, BIDV’s two branches of BIDV North Hanoi and BIDV Dong Do, have brought new sustainable and long-term cooperation in Vietnam’s shipbuilding sector.

Ha Long Shipyard, founding in 1976 with assistance from Poland and a member of the Vietnam Shipbuilding Industry Corporation (Vinashin), is carrying out the construction of 12,000-tonnage vessels and 1,016-TEU container carriers.

• P.V