VDB to lend 1.5 million USD to India sugar factory

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 Viet Nam Development Bank (VDB) will lend VND330 billion (US$15.7 million) for a project to increase the capacity of KCP Viet Nam Industries Limited (KCP VIL) in central Phu Yen Province.  The loan will help increase the processing capacity of Son Hoa Sugar Factory from 5,000 tons to 10,000 tons of sugarcane per day by 2018. It will also help reduce the time needed to cultivate sugarcane from five or six months to 120 days. KCP VIL was the first foreign company to receive a VND72-billion ($3.4 million) loan from the Viet Nam government’s Development Assistance Fund for the shifting of its factory from Thua Thien-Hue to Phu Yen Province due to inadequate supply of sugarcane in former province in 2000.

 

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