Proposal on loan capital to build Chu Lai - Truong Hai engine producting firm

P.V |

(QNO) - Quang Nam People’s Committee (PC) has reported to the government about the implementation of Chu Lai - Truong Hai production and engine manufacturing plant projet. The province also suggested the mechanism on state investment loan from Vietnam Development Bank.
Quang Nam PC asked government’s permission to disburse loan capital implement the project in 2013 to create favourable condition to Truong Hai auto JS company in loaning capital ( within about 12 years) before it hands in the appendix of the technology transfer contract with Hyundai Group (Korea). This is a large scale project which shall take part in increasing localizing rate in automobile production and economic-social  development of Quang Nam province.
The project is developing at the Tam Hiep port’s logistic and industrial zone ( Nui Thanh district) in an area of 11ha and 2,634 bn VND total registered investment capital. The Prime Minister has approved this project and permitted nominating the contractor for some tendering packages from Huyndai provider.   
The Deputy Prime Minister Vu Van Ninh has requested Truong Hai Auto JS company to extend the technology transfer contract, pay attention to the project’s effect to create conditions to develope the supporting industry. Ninh also request Bank of Vietnam to appraise and  provide investing capital  if the project meets all the state‘s conditions on investment and export credit.