Additional US$17Mln Loan for Song Da Water Plant Project
The French Natexis Bank has recently decided to fund US$17 million for Vietnam to conduct a project to build the Song Da Water Plant in northern Hoa Binh province with a total capital of over VND2.5 trillion (US$158.22 million).
The assistance follows a credit contract jointly signed between the bank and the Vietnam Construction Import-Export Corporation (Vinaconex), the investor of the project, in early November.
The plant will be capable of supplying 600,000 cubic meters of water per day, said Phi Thai Binh, Vinaconex’s Director.
The project will boost the use of surface water sources and will apply modern technology in the exploitation of underground water sources in order to pump clean water to northern provinces of Ha Tay and Hoa Binh, and industrial zones in the western region of Hanoi, he added.
In late October, the Bank for Investment and Development of Vietnam (BIDV) provided a long-term credit worth VND246 billion (US$15.57 million) for Vinaconex to build the water supply plant.
The lending, which had a maturity of ten years and a two-year grace period, accounted for 18 per cent of the total investment for the project’ first phase of VND1.39 billion (US$87.97 million).
Vietnam Banking Times
Vietnamese
