UIC: BOD resolution on bank loan

The Board resolution dated April 13, 2020, the BOD of Idico Urban and House Development Investment Joint Stock Company approved the plan to invest in the 63 MVA transformer to replace the 16 MVA transformer of 100/22kV Tuy Ha substation project. Accordingly, the company implemented a transaction at Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) – Dong Dong Nai branch with the limit of VND 43,820,000,000. Idico Urban and House Development Investment Joint Stock Company will use the assets of the project as the collateral for its credit obligation at BIDV.

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