Economy
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| Delegates attend the syndicated loan signing ceremony in Hà Nội. — Photo courtesy of Vietcombank |
HÀ NỘI — Vietcombank has arranged a syndicated loan worth nearly VNĐ27.1 trillion (over US$1 billion) to finance the expansion of the HCM City–Trung Lương–Mỹ Thuận Expressway under a public-private partnership (PPP) model.
The syndicated credit agreement was signed on Thursday in Hà Nội between project company BOT Sài Gòn–Mỹ Thuận Co and a consortium of six lenders comprising Vietcombank, the lead arranger, and VietinBank, BIDV, Agribank, VPBank and TPBank.
The HCM City–Trung Lương–Mỹ Thuận Expressway expansion project spans more than 96 kilometres and has a total investment of VNĐ36.1 trillion. Developed under the PPP model, the project has secured nearly VNĐ27.1 trillion in syndicated financing from the six participating banks.
According to the organisers, this is the largest syndicated credit package ever arranged for a build-operate-transfer (BOT) transport project in Việt Nam, providing a strong financial foundation for one of the country's key transport infrastructure developments.
Speaking at the signing ceremony, Vietcombank CEO Lê Quang Vinh said the expressway expansion is the largest BOT transport project in Việt Nam in terms of syndicated bank financing.
He noted that the project will help meet rising transport demand between the southeastern region, particularly HCM City, and the Mekong Delta, while contributing to the completion of the country's north-south transport network.
Deputy Minister of Construction Bùi Xuân Dũng commended Vietcombank in its role as lead arranger and the five participating banks for coordinating the appraisal process, finalising lending conditions and mobilising the large-scale financing required for the project.
"The goal is not only to complete the project on schedule, but to strive to finish it ahead of schedule so that it can serve people's travel needs sooner, support regional socio-economic development and enhance the project's investment efficiency," Dũng said. — BIZHUB/VNS
