Vietnam Commercial Joint Stock Bank of Industry and Trade (VietinBank-CTG)’s Quang Ninh branch on July 26 in Ha Long city, in the northern province of Quang Ninh, signed a credit contract with Nui Beo Coal Joint Stock Co (coded NBC) to finance three trillion dong for Nui Beo coal mining project.
The project has a total investment of over 5.3 trillion dong, of which, VietinBank will invest three trillion dong with a loan term of 12 years.
The project will contribute to increasing the coal output of Vietnam National Coal and Minerals Industries Group (Vinacomin), serving domestic demand and export under the coal industry development strategy until 2015 and prospects for following years approved by the prime minister.
Reportedly, Nui Beo coal mine will be one of new mines being prioritised by Vinacomin for investments in the future.
