HANOI, March 6 Vietnam's steelmaker Hoa Phat
has signed a contract to borrow 10 trillion dong ($439
million) from lender VietinBank to help finance its
steel complex project, the company said on Monday.
The loan has a term of seven years with favourable interest
The project, which started last month in central province of
Quang Ngai, will require a total investment of 52 trillion dong.
Hoa Phat expects to finish the project by late 2019,
tripling its annual steel production capacity to 6 million from
its current 2 million.
Hoa Phat took over the project from Guang Lian Steel
Vietnam, which has delayed the project for 10 years.
(Reporting by My Pham; Editing by Tom Hogue)