Korea Eximbank to Provide US$90 Mil. for Hyosung Chemical to Build PP Plant in Vietnam

The Export-Import Bank of Korea announced on Sept. 24 that it will arrange a US$215 million syndicated loan, including US$90 million from the bank itself, for a polypropylene (PP) plant promoted by Hyosung Chemical in Vietnam.

Korea Eximbank played the role of a mandated lead arranger (MLA) for the syndicated loan, in which four other Korean financial institutions, have participated.

Hyosung Chemical will build a PP plant with a production capacity of 600,000 tons per year in the Ba Ria-Vung Tau region of southern Vietnam.

When completed in 2021, the plant will boost Hyosung Chemical's annual polypropylene production capacity from current 650,000 tons to 1.25 million tons.