VDB Gia Lai finances Van Phat starch mill project
29/07/2016 12:07
On 28th July, 2016, in Gia Lai province, Vietnam Development Bank (VDB)’s branch of Gia Lai with the Bank for Agriculture and Rural Development (Agribank)’s branch of Gia Lai have signed a credit contract to finance Van Phat starch milling project owned by Duong Van Phat trade - agro-forestry processing Co.Ltd.
Located in Chu Ngoc Commune, Krongpa District, Gia Lai Province, the Van Phat starch milling project has designed capacity of 250 tons per day (equivalent to 60,000 tons of tapioca starch per year). It has total investment of over VND231 billion, of which VND137 billion from VDB Gia Lai, about VND42 billion from Agribank Gia Lai, the remaining from Company’s equity capital. Loan maturity of 09 years (108 months), grace period of 12 months and the interest rate is 8.55% / year.
In operation, the project will create jobs for local people, help to consume raw cassavas planted by farmers, raise income for labors, especially for ethnic minorities and contribute to the region economic - social development./.