Two branches of the Bank for Foreign Trade of Viet Nam (Vietcombank) have won a contract to provide loans for the expansion of a granite factory.

Located in the La Son Industrial Zone, Phu Loc District, Thua Thien-Hue Province, the factory belongs to Vitto Phu Loc Co Ltd, a subsidiary of Vitto Group.

Under the contract, the two branches -- Vietcombank Vinh Phuc in the northern province of Vinh Phuc and Vietcombank Hue in the central province of Thua Thien-Hue -- will grant a credit package worth VND400 billion (US$17.8 million) for the factory’s second phase.

Vitto Phu Loc Co Ltd is a large granite producer in the central region, with productivity of 12 million sq.m per year. With investment of VND600 billion in the second phase of the factory, the company is planning to increase productivity by 7.2 million sq.m per year.

Earlier, at the end of August, Vietcombank signed credit agreements for two investment projects under the Public-Private-Partnership with HCM City’s Department of Planning and Investment.

Specifically, the projects include a new facility of Children 1’s Hospital, worth VND800 billion, and construction of Tan Phu Hospital, worth VND973 billion. — VNS