Thuy Trieu and Thanh Hai
Representatives of SHB and VRG Dak Nong Co. at the credit deal signing ceremony - Photo: Courtesy of SHB
SHB said in a press release that its HCMC Branch has just signed a credit contract to lend VND584 billion to the Dak Sin 1 hydropower project invested by VRG Dak Nong Joint Stock Company, a member of Vietnam Rubber Group. The loan is equivalent to around 70% of the project’s total investment.
Consisting of two turbines, the Dak Sin 1 hydropower project is expected to supply over 105.6 million kWh for the national power grid every year.
Previously, SHB’s HCMC Branch had inked another deal providing VND600 billion for the new Dong Nai Bridge and two approach roads at the bridge’s two ends constructed under the build-operate-transfer (BOT) format by Construction Corporation No. 1 (CC1). With this deal, SHB provides the project with half of the investment needed for the second phase.
Dang To Loan, deputy general director of SHB and director of the bank’s HCMC Branch, said that funding major infrastructure projects was one of the priorities of SHB to boost credit growth of the bank in potential sectors.
SHB has also lent nearly VND2 trillion to Trung Nam Construction Investment Corporation to construct the Hue intersection project in Danang City under a deal signed last Saturday.
Hue intersection, a major traffic project in Danang City, was kicked off on the same day with an aim to reduce traffic congestion in the area. Having a first-phase investment of VND1.797 trillion, the project is carried out under the build-transfer (BT) format.
The intersection northeast of Danang City is where National Highway 1A, Dien Bien Phu Street and the north-south railway meet.
According to Phung Tan Viet, vice chairman of Danang City, the project is important to the city’s socioeconomic development.
“The city government has asked the investor to conform to the schedule to put the project into operation on March 29, 2015,” said Viet.
Nguyen Tam Thinh, chairman of Trung Nam, said that under the credit deal, SHB would provide 85% of the project’s investment and capital would be disbursed from now until 2015.
According to Nguyen Van Le, general director of SHB, the bank had earlier this year supplied capital for several other large-scale infrastructure projects, including the upgrade of National Highway 1 sections in Thua Thien-Hue and Khanh Hoa provinces.
Đăng ký: VietNam News