Eight commercial banks have signed a deal with Vietnamese steel maker Hoa Phat Dung Quat Steel, granting credit of VNĐ 35 trillion (USD 1.53 billion) to its Hoa Phat Dung Quat 2 Steel Integrated Complex Project. Eight commercial banks in the deal comprise of the deal initiator Vietcombank, as well as BIDV, VietinBank, Agribank, MB, TPBank, VPBank and MSB as they see bright prospects for the project’s viability.Speaking at the signing ceremony at Hanoi on 17 March 2022, Hoa Phat Group Chairman Mr Trần Đình Long underlined the project as the group’s most significant programme with a total outlay of VNĐ 85 trillion (USD 3.72 billion) and a capacity of 5.6 million tonnes of hot rolled coil steel per year. He believes that his group would become the most significant domestic HRC steel producer once the project came into operation.The project is expected to raise the annual steel output of the group to 14 million tonnes and create 8,000 new jobs
Eight commercial banks have signed a deal with Vietnamese steel maker Hoa Phat Dung Quat Steel, granting credit of VNĐ 35 trillion (USD 1.53 billion) to its Hoa Phat Dung Quat 2 Steel Integrated Complex Project. Eight commercial banks in the deal comprise of the deal initiator Vietcombank, as well as BIDV, VietinBank, Agribank, MB, TPBank, VPBank and MSB as they see bright prospects for the project’s viability.Speaking at the signing ceremony at Hanoi on 17 March 2022, Hoa Phat Group Chairman Mr Trần Đình Long underlined the project as the group’s most significant programme with a total outlay of VNĐ 85 trillion (USD 3.72 billion) and a capacity of 5.6 million tonnes of hot rolled coil steel per year. He believes that his group would become the most significant domestic HRC steel producer once the project came into operation.The project is expected to raise the annual steel output of the group to 14 million tonnes and create 8,000 new jobs
