Developer inks loan deal with KDB

Saturday, Nov 30, 2013 11:45

HA NOI (Biz Hub)— The T.H.T Development Ltd Co has signed a contract to borrow money from the Korea Development Bank (KDB) for the Ho Tay urban area.

Under the lucrative contract, KDB will provide US$200 million to develop infrastructure for the urban area.

The T.H.T Development Ltd Co has invested $94 million to carry out site clearance for the first stage of the project.

The Tay Ho Tay Urban Area will be a synchronous urban area including office buildings, trading and financial centres, cultural complex, residential space and schools.

The project is expected to have a total investment of $2.5 billion and finish the first stage in 2019..— VNS

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