Vietnam's Agribank is supplying infrastructure development company Cavico Corporation with a US$2.13M credit line in order to buy equipment that will be used with hydro power facilities and other projects.
Cavico Mining, which is 50% owned by Cavico Corporation, will use the credit line to purchase equipment valued at approximately US$2.63M. Cavico Mining will fund the remaining US$501,488.
Cavico Mining is engaged in several large-scale projects in Vietnam, including construction of a dam at Cua Dat hydro power plant in Thanh Hoa province and the Da Vi bridge for the Tuyen Quang hydro power plant. The company also begins work on the tunnel at the Nam Chien hydro power project soon.
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