Vinaconex secures funding for water pipeline project
Vinaconex has secured a loan from a commercial bank to fund the construction of a new water pipeline bringing water from Da River to supply to Hanoi residents.
Vinaconex has secured a loan from a commercial bank to fund theconstruction of a new water pipeline bringing water from Da River tosupply to Hanoi residents.
The 18-year loanwill provide 85 percent of the project’s total investment of 1.2trillion VND (55.8 million USD), according to the company.
This will be the second Da River water pipeline, which is slated to supply around 40,000 cu.m of water to the city.
Construction of the pipeline will start before the Lunar New Year holiday.
The first Da River water pipeline was put into use in 1997 and hadbeen broken on six separate occasions. Tens of thousands of householdssuffered water shortages for days on each occasion.
Currently, there are 18 water plants in Hanoi. Vinaconex Clean WaterJSC supplies 30 percent of the city's total water demand.-VNA
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