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| Vietnam to build its first box manufacturing plant |
| POSTED: 9:58 a.m. EDT, May 16,2007 |
Vietcombank has agreed to provide more than US$16.5 million in financing the Vinashin-TGC Container joint venture to build a plant to manufacture shipping containers.
The plant will be the first of its kind in Vietnam and will be located in the Hai Duong Shipbuilding Industry Zone. A report from the official Vietnam News Service said the first phase of the facility will have an annual capacity of 30,000 TEU, which is expected to double in the second phase.
Vietcombank will effectively finance 75 per cent of the $22 million project over eight years while the rest of the money will come from the joint venture's own sources, the report said.
"This contract is a good start and I hope Vinashin and Vietcombank will co-operate more in the future," said Vietcombank chairman Nguyen Hoa Binh.
Vinashin-TGC is a joint venture between the Vietnam Shipbuilding Industry Group (Vinashin) and Taiwan-based Toong Goen Co. |
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| From:schednet |
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