Vietnam: Thang Cement project wins funding

JSC Bank for Investment and Development of Vietnam (BIDV) and North Asia Commercial Joint Stock Bank (Bac A Bank) will lend a combined VND3.15trn (US$143.5m) to construction a new cement plant in the central province of Nghe An. Tan Thang cement plant, in Qunh Luu district, is a project with a total investment of VND4.54trn. It will have a capacity of 5000tpd of clinker or 1.98Mta of cement.

BIDV and Bac A Bank signed on 13 August credit agreements with Tan Thang Cement JSC, under which BIDV will lend VND2.4trn and Bac A Bank will finance VND750bn to Tan Thang Cement JSC with a term of 12 years.

Vietnam now has 76 cement production lines with a combined output of 81.56Mta. The Ministry of Construction predicted Vietnam's sales of cement and clinker to rise 1.5-4 per cent YoY to between 72-74Mt in 2015, of which domestic sales are expected to rise 4.5-6.5 per cent to 53-54Mt and the exports  to 19-20Mt.