Japanese Bank tightening co-operation with Vietnam Oil and Gas Group

CPV: Mizuho on October 25 concluded MOUs with the Vietnam Oil and Gas Group (PetroVietnam) and PetroVietnam Joint Stock Finance Corporation (PVFC), to strengthening the relationship between parties.

Under the MOU with PetroVietnam, Mizuho will provide financial services for PetroVietnam’s investments by interfacing with the Japanese and global capital markets, syndication debt market, multilateral agencies and ECAs, providing financing in particular for PetroVietnam’s interest in the Nghi Son Refinery project.

Photo: HC

Through the MOU with PVFC, Mizuho and PVFC will focus on building close cooperative relationship between the financial institutions, sharing investment opportunities, and collaborating on banking services and project finance.

Mizuho has extensive experience in Vietnam, with the establishment of a Hanoi branch in 1996 and aHo Chi Minh City branch in 2006. Mizuho is participating in PetroVietnam’s Nhon Trach 1 Power Plant syndication facility of 270 million USD and PetroVietnam’s Dung Quat refinery syndication facility of 250 million USD, and has committed to joining the syndication facilities for several of PetroVietnam’s subsidiaries.

All parties look forward to working together in close cooperation under the MOUs, which represent a remarkable milestone in the relationship among the three entities.