Copying and distributing are prohibited without permission of the publisher
Tweet this article
Post this in LinkedIn
  • Please enter a maximum of 5 recipients. Use ; to separate more than one email address.

Citi provides $300m financing for Vietnam bauxite, alumina project

November 19, 2012 - 11:30 GMT Location: London

KEYWORDS: Vinacomin , citi , bauxite , alumina , lam dong , vietnam

The Vietnam National Coal and Mineral Industries Holding Corp (Vinacomin) has agreed to a $300 million loan from investment bank Citi to finance the construction of a bauxite mine and an alumina refinery in the Central Highlands province of Lam Dong, Vinacomin announced late last week.

The Vietnamese ministry of finance has guaranteed the 13-year loan, which was insured by Nippon Export and Investment Insurance (NEXI).

"Under the terms of the agreement, Citi is the sole NEXI co-ordinator and the Joint Lead Arranger together with Mizuho Corporate Bank, Sumitomo Mitsui Trust Bank, and the Bank of Tokyo-Mitsubishi UFJ," Vinacomin said.

It is the first joint bauxite and alumina project ever undertaken in Vietnam

"The $300 million loan agreement is the largest agreement ever for Vinacomin. This financing is particularly meaningful as it will be used to finance Vinacomin’s Lam Dong bauxite/alumina complex project, an important national development with direction and support from the Government," Le Minh Chuan, president and ceo of Vinacomin, said. "The loan will have a significant impact on the success and effectiveness of the project."

Jethro Wookey
Twitter: @jethrowookey_mb

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

This is a free article, brought to you by 

Gain free access to subscriber-only articles and metal prices for a week with a trial.

Free trial

Or subscribe for full access to all the latest news, interviews and over 950 metal prices, including archive.


If you already have a Metal Bulletin account, please

subscribe to this feed Comment & analysis

Upcoming Events

MB Glossary

From Aluminium to Zinc...
Search this free glossary on metals

Try the new Metal Bulletin BETA site...

We've added some great new features and tools which we think you'll find useful:

  • Easier to use navigation including links to new sections
  • Cleaner interface for the Price Book with easier to use data views
  • More dedicated pages for specific metals e.g chrome, antimony, nickel
  • Better search tools for news and prices with handy filters

Simply click 'Yes please' below to go straight to the BETA site
(Please note: you will need to log into the BETA site on your first visit. Plus you can return to the original site any time you wish)