SHB teams up with construction firms

Saigon-Hanoi Commercial Bank (SHB) and Thang Long Construction Corporation and Civil Engineering Construction Corporation 8 (Cienco 8) clinched cooperation deals on Tuesday to reciprocally support business operations.

SHB and the two corporations pledged to facilitate cooperation programs among their affiliates, units and partners. The three sides will also prioritize products and services of each other and will cooperate to carry out investment projects.

SHB chairman Do Quang Hien said in a statement that the cooperation deals have given SHB opportunities to become a strategic shareholder of the two corporations when they go public in the coming time.

Since early this year, SHB has financed many large traffic infrastructure projects such as Dong Nai Bridge, expansion of the National Highway 1A in Khanh Hoa Province and an intersection project in Hue City. The lender has also entered comprehensive cooperation with large groups and corporations such as Vinacomin, Vietnam Rubber Industry Group, Viglacera and Binh Son Refining and Petrochemical Company Limited.

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