DIC No.2 secures VND 260 bn loan for project expansion

Development Investment Construction Number 2 JSC (DIC No.2) has approved a resolution to secure a VND 260 billion short-term credit facility from BIDV Ba Ria – Vung Tau branch. The financing is earmarked to support various construction projects, including the Ngan Hiep 1; 2 Ho Tram tourism area, CSJ project phases 2 and 3, and the Charm Long Hai project. The loan facility is structured with a 12-month repayment period, leveraging revenue from these projects as the primary source of repayment.

The approved credit facility comprises VND 200 billion for short-term loans and payment guarantees, VND 10 billion for overdrafts, and VND 50 billion for standard guarantees. To secure this loan, DIC No.2 will provide a comprehensive portfolio of assets as collateral, valued at a total of VND 98,663,952,154, offering a secured value of VND 79,908,418,908.

The collateral includes various properties and equipment, such as a pile pressing machine (VND 1,062,727,274), a warehouse (VND 8,513,219,200), office buildings (VND 26,805,600,000 and VND 21,883,200,000), and a land use rights certificate for a premium housing project (VND 5,547,200,000). Pham Duc Dung, chairman of the board of directors, is authorized to finalize all associated agreements.