Standard Chartered supports Vietnamese coffee exporter

  • by VNBUSINESS
  • April 13, 2014

Nhan Dan – Standard Chartered Vietnam has signed an agreement to provide US$22 million for Tin Nghia Corporation so that it can boost coffee exports to 140,000 tonnes for the 2013-2014 period.Standard Chartered supports Vietnamese coffee exporter

 

 

Under the agreement, the Dong Nai-based firm will use the loan to stockpile coffee beans from local growers and develop its 1,000-hectare coffee plantations in Laos.

Standard Chartered Vietnam CEO said that the credit package is expected to help Tin Nghia strengthen its coffee production and export business.

A Tin Nghia representative said it is one of the three largest coffee exporters in Vietnam, shipping an estimated 100,000 tonnes and earning around US$200 million each year.

Last January, Standard Chartered Vietnam also made a deal to lend US$70 million to the An Giang Plant Protection Company to help it develop large-scale paddy fields in the Mekong River Delta.

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