VietinBank helps fund $44m factory

Saturday, Feb 15, 2014 12:34

Vietinbank will fund VND1.49 trillion ($709 million) to build a medium-density fibreboard processing plant in Kien Giang Province. — Photo

KIEN GIANG (VNS)— VietinBank and the Viet Nam Rubber Industry Group (VRG) have signed a grant contract worth more than VND930 billion (US$44 million) for the construction of a medium-density fibreboard processing plant.

The plant, to be built on an area of 85,506 sq.m in Thanh Loc Industrial Zone in Chau Thanh District, the southern province of Kien Giang, will have a planned annual processing capacity of 75,000 cu.m.

The project will be funded by the bank at a total cost of VND1.49 trillion ($709 million). — VNS

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