Vietnam / Vinacomin Alumina Refinery Project
Nippon Export and Investment Insurance
NEXI has decided to provide Loan Insurance for loans extended to Vietnam National Coal and Mineral Industries Holding Corporation Limited ("Vinacomin"), Vietnam's largest national coal mining firm. The loans are to be provided by Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Bank, Ltd., Standard Chartered Bank, Crédit Agricole Corporate and Investment Bank, and The Shizuoka Bank, Ltd..
The purpose of the project is to construct a new alumina refinery in Dak Nong province of Vietnam. Vinacomin is trying to add more value to their bauxite resources by constructing and operating Vietnam's alumina refinery plant.
Japanese Company has the right to purchase some of the alumina from this project annually under a principle agreement on sale and purchase of alumina. The project is expected to contribute to Japanese manufacturers both in Japan and overseas by providing them a new and stable supply of alumina.
NEXI will participate in the projects that promote stable resource and energy supply to Japan.
Reference
1. Lenders
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Trust Bank, Limited
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Mizuho Bank, Ltd.
Standard Chartered Bank
Crédit Agricole Corporate and Investment Bank
The Shizuoka Bank, Ltd.
| Insurance | Loan Insurance |
|---|---|
| Borrower | Vietnam National Coal and Mineral Industries Holding Corporation Limited |
| Insurable Amount | USD300 million |
| Covered Risk | Political Risk and Commercial Risk |
| Tenor | 14 years |