Acuity Funding lends $720 million to NSH Petro

The loan approval signing ceremony between Acuity Funding and NSH Petrol took place on February 27 at the headquarters of Hau Giang People’s Committee.

In the first phase of the funding, the Australian fund will allocate $290 million for NSH Petro’s projects in Mai Dam township of Hau Giang, Go Cong town of Tien Giang province, and Tra Noc ward of Can Tho city to pay off debts and tax arrears and upgrade and expand these existing facilities.

In the second phase, Acuity Funding will disburse $430 million for NSH Petro to fund the construction of new factories in Tien Giang and increase working capital to help complete integrated projects in Dong Phu commune of Hau Giang and Phong Dien district of Can Tho.

There will be a three-year grace period for the 20-year loan packages, which is expected to open up new development opportunities for NSH Petro.

Ranjit Thambyrajah, Chairman and CEO of Acuity Funding, said that the tie-up meets Acuity Funding’s expectations for green energy development.

He hopes to form a long-term partnership with NSH Petro in the next few decades. As a result, it will contribute to the socioeconomic development of Hau Giang as well as the entire region of the Mekong Delta.

Mai Van Huy, chairman of the Board of Directors of NSH Petro said, "In 2024, the Ministry of Industry and Trade has allocated a total minimum petroleum supply of almost 685,000 cu.m to the company, of which petrol makes up just over 466,000 cu.m and diesel accounts for nearly 218,800 cu.m."

"With the funding, NSH Petro will make efforts to overcome challenges, increasing production to ensure stable petroleum supply to Mekong Delta provinces."

Acuity, a global private credit institution and a member of the Society for Worldwide Interbank Financial Telecommunications, has operated in Vietnam for more than nine years. Acuity Funding has the capacity to arrange, coordinate, and manage over $100 billion in project value worldwide.

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