Ba Ria -Vung Tau Development Investment Fund (BVDIF) has recently signed a loan agreement with Phu My Water Supply Joint-Stock Company (PhuMy Waseco) to finance the “Phu My Surface Water Plant Project” with a total capacity of 100,000 cubic meter (cu. m.) per day, with a first stage capacity of 50,000 cu. m. per day. Under this loan agreement, BVDIF will provide 50 billion Vietnam dong (about 2.23 million USD) which accounts for about 50% of the total investment by PhuMy Waseco. The loan term will be for 5 years with the grace period of 18 months. The project is expected to be completed in March 2016.

This project will construct the D800 pumping system for the transfer of water from Phu My Surface Water Plant in Chau Duc district, Ba Ria-Vung Tau province. It is conceived to solve the increasing demand for clean water in Tan Thanh district, an industrial center of Ba Ria-Vung Tau province as well as the southern key economic zone of Vietnam with six industrial parks. The upgrading of the pumping system will extent existing water transfer to serve the growing number of local residents and industrial activities.

This surface water plant project is the first project financed by BVDIF. Mr. Nguyen, BVDIF Director, stated at the signing ceremony that BVDIF will always go together with partners and investors for the socio-economic infrastructure development in Ba Ria -Vung Tau province.