Banks pour cash into iron-steel complex in Ha Tinh

24/12/2007 -- 5:32 PM

Ha Tinh (VNA) – Three commercial banks of Viet Nam have agreed to provide 750 billion VND in credit for the construction of an iron and steel complex in the central province of Ha Tinh . Credit contracts have been signed between local branches of the Viet Nam Development Bank, the Bank for Investment and Development of Viet Nam, and the Bank for Foreign Trade of Viet Nam and the project’s owner – the Ha Tinh Iron and Steel Joint Stock Company. The loan will enable the construction process of the project, which has a total investment of 885 billion VND. Located in the Vung Ang economic zone, the complex has a designed capacity of churning out 500,000 tonnes of steel ingot per year during its first phase. The complex is expected to turn out its first batch of products in the first quarter of 2009.-Enditem
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