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