Refinery operator gets 200 million-USD loan

10:19 AM @ Tuesday - 25 May, 2010
Eight commercial banks on May 24 jointly signed in the central province of Quang Ngai a credit contract with the Binh Son Refining Petrochemical Company to provide it a synthetic loan worth 200 million USD.

Ocean Bank is the loan arranger. Other involved banks are TienPhong Bank, Vietnam International Bank, Lien Viet Bank, VietinBank, Credit Agricole Corporation and Investment, HSBC, and Indovina Bank.

Binh Son was established in 2008 in order to take over the management and operation of the Dung Quat Oil Refinery.

The 3 billion USD Dung Quat Oil Refinery is the first of its kind in Vietnam , capable of treating 6.5 million tonnes of crude oil per year.

By the end of April, it produced almost 2.7 million tonnes of products, including LPG and petroleum./.