Vietinbank, Vinacomin sign $100M credit contract

VietinBank and Vinacomin have signed a credit contract worth $100 million to finance Nhan Co aluminum factory.

Under the contract, VietinBank pledged $100 million, or VND2.1 trillion for Vinacomin to implement Nhan Co aluminum factory project. The credit is a part of the credit package of VND 6 trillion that VietinBank spares for Vinacomin.

VietinBank’s chairman Pham Huy Hung said: VietinBank is proud to be the major sponsor and provide banking services for Vinacomin and its affiliates’ credit demand to carry out their annual production and business investments as well as major projects and key minerals of the coal industry.

The signing ceremony of the credit agreement confirms VietinBank’s capacity to arrange finance for investment in major projects and confirmed close relation between VietinBank and Vinacomin in the context of integration, the global economic downturn and fierce competition today.