Tuesday, April 13, 2010

Citibank (NYSE:C) Funding Vietnam Bauxite Project

Citibank finances Vietnam Bauxite Projects

Citibank (NYSE:C) has signed a deal with the Vietnam National Coal and Mineral Industries group to finance the Lam Dong bauxite project, located in the Central Highlands of the country.

The credit deal will extend for a period of 13 years, and is for up to $200 million in loans for the project.

Vinacomin, the leading coal miner in Vietnam, will develop the bauxite sites.

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