Australian credit institution supplies funds for Vietnam petroleum firm
Acuity Funding of Australia will provide finances for eight projects of the Nam Song Hau Trading Investing Petroleum Joint Stock Company (NSH Petro), based in the Mekong Delta province of Hau Giang.
HauGiang (VNA) – Acuity Funding of Australia will provide finances foreight projects of the Nam Song Hau Trading Investing Petroleum JointStock Company (NSH Petro), based in the Mekong Delta province of Hau Giang.
Thefunding contract was handed over at a ceremony held at the headquarters of theHau Giang People’s Committee on February 27.
Inthe first phase of the funding programme, Acuity will provide a total of about290 million USD for the NSH Petro projects in Mai Dam township ofHau Giang, Go Cong town of Tien Giang province, and Tra Noc ward of Can Thocity to repay bank loans and tax arrears, and upgrade and expand their existingfacilities.
Inthe second phase, the Australian fund arranger will provide a total of some 430million USD for NSH Petro to build a new plant in Tien Giang and increaseworking capital to help complete integrated projects in Dong Phu commune of HauGiang and Phong Dien district of Can Tho.
Chairmanof NSH Petro Mai Van Huy said that for 2024, the Ministry of Industry and Tradeassigned his company to supply 684,926 cu.m. of fuel, comprising 466,186 cu.m. ofpetrol and 218,740 cu.m. of diesel oil. It is working to increase production to ensure sufficient fuel supply forlocalities in the Mekong Delta.
RanjitThambyrajah, Chairman and CEO of Acuity Funding, said that Acuity, a globalprivate credit institution and a member of the Societyfor Worldwide Interbank Financial Telecommunications (SWIFT), has operated in Vietnam for more than nine years.
Henoted apart from the partnership with NSH Petro, with support from theAustralian Government and green financial sources, it will also expand fundingfor public, public-private partnership (PPP) and private projects of many otherbusinesses and localities of Vietnam to generate benefits for the community,boost sustainable development, and help with environmental protection./.
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At the signing ceremony (Photo: VNA) 
