Military Bank finances shipbuilding for export

The Military Bank will provide 13 million EUR to a local project to build four ships for Seatrium Shipbuilding B.V of the Netherlands .

Under the 23 million EUR contract, the Hong Ha Shipbuilding Company will deliver the 3,300 tonne ships in November 2009.

Earlier, the Military Bank also lent 10.5 million EUR to Hong Ha Company to implement a project to build six 2,600 tonne ships for export to the Netherlands.

VNA

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