The Japan Bank for International Cooperation (JBIC) will provide 150 million USD in credit to the coal development projects of the Vietnam National Coal-Mineral Industries Group (Vinacomin).
A loan contract to this effect was signed in Hanoi on March 29 by representatives from JBIC, the Sumitomo Mitsui Banking Corporation and Vinacomin.
Speaking at the singing ceremony, the Sumitomo Mitsui Banking Corporation’s representative emphasised the importance of the contract, saying that this was the first line of credit granted as part of the JBIC’s energy and resources funding programme for high-quality coal trading.
Vinacomin General Director Tran Xuan Hoa affirmed that this was also the first-ever funding that Japan has provided to Vietnam’s coal projects.
The group pledged to continue providing 1-2 million tonnes of high-quality coal to Japan each year, he said, adding that the quality and quantity of coal will be raised as of 2010./.
A loan contract to this effect was signed in Hanoi on March 29 by representatives from JBIC, the Sumitomo Mitsui Banking Corporation and Vinacomin.
Speaking at the singing ceremony, the Sumitomo Mitsui Banking Corporation’s representative emphasised the importance of the contract, saying that this was the first line of credit granted as part of the JBIC’s energy and resources funding programme for high-quality coal trading.
Vinacomin General Director Tran Xuan Hoa affirmed that this was also the first-ever funding that Japan has provided to Vietnam’s coal projects.
The group pledged to continue providing 1-2 million tonnes of high-quality coal to Japan each year, he said, adding that the quality and quantity of coal will be raised as of 2010./.
