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Granite factory: Vietcombank inks lending deal worth VNĐ400b

Update: September, 23/2017 - 19:50
Leaders of Vietcombank Vĩnh Phúc, Vietcombank Huế and Vitto Phú Lộc Co Ltd at the credit contract signing ceremony. — Photo Courtesy of Vietcombank
Viet Nam News

HÀ NỘI — Two branches of the Bank for Foreign Trade of Việt Nam (Vietcombank) have won a contract to provide loans for the expansion of a granite factory.

Located in the La Sơn Industrial Zone, Phú Lộc District, Thừa Thiên-Huế Province, the factory belongs to Vitto Phú Lộc Co Ltd, a subsidiary of Vitto Group.

Under the contract, the two branches -- Vietcombank Vĩnh Phúc in the northern province of Vĩnh Phúc and Vietcombank Huế in the central province of Thừa Thiên-Huế -- will grant a credit package worth VNĐ400 billion (US$17.8 million) for the factory’s second phase.

Vitto Phú Lộc Co Ltd is a large granite producer in the central region, with productivity of 12 million sq.m per year. With investment of VNĐ600 billion in the second phase of the factory, the company is planning to increase productivity by 7.2 million sq.m per year.

Earlier, at the end of August, Vietcombank signed credit agreements for two investment projects under the Public-Private-Partnership with HCM City’s Department of Planning and Investment.

Specifically, the projects include a new facility of Children 1’s Hospital, worth VNĐ800 billion, and construction of Tân Phú Hospital, worth VNĐ973 billion. — VNS 


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