Post date: 08/09/2009

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Credit Contract Signing Ceremony in phase 1 and Commitment to conditioned support in phase 2 for the Project ''Business investment and exploitation of Hon La Port''

(Quang Binh Website) - On September 07, the Petroleum Technical Services Corporation (PTSC) held a signing ceremony of credit contract with the Vietnam Joint-stock Commercial Bank for Industry and Trade (VietinBank) - Chuong Duong Branch to issue invested capital for the Hon La port Project.

In attendance at the ceremony, there were Vice-chairman of the provincial People's Committee Nguyen Dang; Deputy Director of VietinBank Nguyen Viet Manh; Chairman of PTSC Board of Directors Thai Quoc Hiep together with representatives of related units.

According to the Contract, the Vietnam Joint-stock Commercial Bank for Industry and Trade (VietinBank) - Chuong Duong Branch committed to providing PTSC a total loan of over VND110 billion in a 10-year term to invest in the Project of Hon La Port.

PTSC signs the Credit Contract with VietinBank - Chuong Duong Branch

As planned, after completing transfer and arranging capital resource for the Project, PTSC will mobilize all resources to invest in means and equipment, expand the Hon La Port and improve the capacity of exploitation to meet the demand for transport and continue investing in the phase 2, contributing to promoting economic development of the locality.

Speaking at the ceremony, Province Vice-chairman Nguyen Dang applauded the cooperation between VietinBank and PTSC and underlined that signing the credit contract between two enterprises was a significant event to mark the development of the Hon La Seaport in particular and the socio-economic development of the locality in general. Vice-chairman Dang also promised that the province would create all favorable conditions to help the Project of Hon La Port quickly put into use.

Reported by Ngoc Ha - Translated by N.Y

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