BIDV to Loan VND2 Tln Vinashin's Shipyards to Build 15 Ships
Bank for Investment and Development of Vietnam (BIDV)’s branch in Haiphong signed September 26 a deal to provide VND2 trillion (US$125 million) as its credit and guarantees for Vinashin’s two affiliates to build 15 ships for exports, BIDV said on its web site.
BIDV will provide roughly US$67 million in guarantee to one-member Pha Rung Shipyard Co. and it may lend it up to VND500 billion (US$31.25 million) to build 15 oil tankers and chemical vessels with combined capacity of 13,000 tons for European clients.
The bank will allocate a guarantee worth EUR28 million and credits of up to VND100 billion (US$6.25 million) for Thanh Long Shipbuilding Co to build 10 dry cargo ships to Dutch and Norwegian customers.
With the financial supports, the shipbuilders will be able to build large ships for foreign partners and will help boost the city’s shipbuilding industry and be listed among the world’s top shipyards, Doan Tien Dung, director of BIDV’s branch in Haiphong said.
However, the timetable and delivery dates of these ships are not available.
Separately, Danang Shipyard under Vinashin will start building 10 ships with 58,000 DWT under the supervision of Norway’s experts. (BIDV, VNA)
Vietnamese
