Friday, August 17, 2007

SHB sponsors construction of Vietnam’s biggest glass factory

A consortium of Vietnamese commercial banks and a finance company provided Tuesday a loan of VND845 billion (US$52 million) for building a glass factory in the central Chu Lai Economic Zone (EZ).

Chu Lai-TKV Laminated Glass Joint Stock Company, the project holder, and other co-sponsors have recently signed a deal worth 845 billion VND to build Chu Lai Laminated Glass Factory.

The sponsors include the Bank for Agriculture and Rural Development of Vietnam in Quang Nam and Binh Dinh, Saigon-Hanoi Commercial Joint Stock Bank (SHB), Ocean Bank and a state-owned financial company.

The construction of Chu Lai Laminated Glass Factory at a cost of 1,102 bil VND was started in Feb. 2007 at North Chu Lai industrial zone in Nui Thanh district, Quang Nam province. This is Vietnam’s biggest project of its kind with a capacity of 700 tonnes per day.

According to SHB executive director Nguyen Van Le, the participation of SHB in this feasible project as a partner is a practical activity in implementing the comprehensively cooperative agreement between SHB and TKV Group.