Vinashin Borrows US$600Mln from Swiss Bank to Major Projects
Vinashin Business Group, Vietnam’s largest shipbuilder will borrow US$600 million from a Swiss bank to carry out its major projects.
Since early 2007, Vinashin borrowed bank loans for its projects, a company official said.
He said Vinashin needs up to US$4 billion for its business expansion from now to 2010.
The group has recently unveiled an ambitious plan to bring Vietnam to world the fourth largest shipbuilder in terms of capacity from the current 11th position in several years to come.
Vinashin, set up in 1995, now has up to 100 affiliates in nearly 30 provinces and cities nationwide. (Transport)
Vietnamese
