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SHB helps fund new projects

Update: October, 05/2013 - 10:34
Sai Gon Ha Noi Bank (SHB) will offer loans of nearly VND1.2 trillion (US$56.8 million) for the construction of a hydro-power plant in Central Highland Dak Nong Province and a bridge in southern Dong Nai Province.— File Photo

HA NOI (VNS)— Sai Gon Ha Noi Bank (SHB) will offer loans of nearly VND1.2 trillion (US$56.8 million) for the construction of a hydro-power plant in Central Highland Dak Nong Province and a bridge in southern Dong Nai Province.

Accordingly, the HCM City branch of the bank would lend VND584 billion ($27.7million ) to Dak Nong VRG Joint Stocks Company – investor of Dak Sin 1 Hydro-power Plant located in the province's Dak R'lap District. The loan accounts for about 70 per cent of the total investment needed for the plant's construction.

The dual turbine hydro-power plant is expected to yield about 105.61 million KWh yearly, meeting power demand in the province as well as reduce power loss during power transmission.

The bank also committed to lend VND600 billion ($29 million) for the construction of a new Dong Nai Bridge and its two approaches.

The bank's deputy general director Dang To Loan said that one of the bank's priorities this year was to finance key infrastructure projects in a move to boost its credit growth while fulfilling its social responsibility to the country's development. — VNS

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