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VietinBank provides VND250 billion for steel project
The Binh Duong branch of VietinBank (HOSE: CTG) has signed a credit contract to provide VND250 billion for a project to build a steel construction complex in the southern province.
The investment will be made within 60 months with a grace period of six months.
The Dai Thien Loc ( HOSE: DTL) steel complex, part of Song Than Industrial Park No 3, will cover an area of 105,000m 2 and have a capacity of 680,000 tonnes of steel per year.
The complex will use European technology in its production lines, which meet the quality demands of the markets of Europe, the US and other developed countries.
Once operational, the complex will help raise the capacity of the Dai Thien Loc company by more than one million tonnes per year.
It is expected that the project will manufacture its first products in 2012.
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