VietABank plans to grant 2tr dong credit line to Sudico

On the sidelines of the annual general meeting (AGM) of Song Da Urban and Industrial Zone Investment and Development Joint Stock Co (Sudico-SJS) on June 30, Nguyen Quang Vinh, representative of Viet A Commercial Joint Stock Bank (VietABank), who holds 1 percent stake in SJS, said that VietABank is planning to support capital for SJS, especially the capital source to deploy South An Khanh project.

Accordingly, VietABank plans to grant a two trillion dong credit line for SJS at the interest rate of about 18 percent per year. Currently, the bank is working with the company to discus the capital use plan.

If everything goes smoothly, from now till the end of this year, VietABank will disburse about 1.6 trillion dong for SJS and the remaining 400 billion dong will be disbursed in the first quarter of 2013.

This capital source will mainly help SJS deal with loans at banks such as Maritime Bank, Techcombank and create capital to deploy South An Khanh project.

 

Category: Finance