GELEX Infrastructure secures $40 million SACE Push loan for facility

GELEX Infrastructure is a GELEX Group sub-holding, an investor and developer in energy, industrial real estate, social housing, construction materials, and clean water production and supply.

The five-year loan, will receive SACE’s comprehensive financial guarantee covering 80 per cent of the amount. It will support GELEX Infrastructure’s capital expenditure for investing in its core business, facilitating its long-term growth strategies.

The SACE Push facility is being financed by HSBC Singapore and LBBW.

Le Tuan Anh, deputy general director of GELEX Group, shared, “This loan will help GELEX Infrastructure access long-term capital in foreign currency, promoting investment in our core business. We are committed to effectively using the funded capital to help the company develop sustainably. At the same time, I hope this will be the beginning of both organisations’ cooperation in other projects in the future.”

Launched in 2017, the SACE Push offering aims to promote bilateral trade between Vietnam and Italy by connecting buyers and suppliers in both markets. This ECA programme provides the guarantee for long-term financing without restricting the nature of goods and with no requirement for available contracts between buyers and Italian suppliers.

Participating buyers may enjoy easier access to funding thanks to SACE’s financial guarantee, and receive SACE’s economic incentive once a target amount of procurement from Italy is reached within an agreed period from the signing of the facility. Both buyers and suppliers will have opportunities to join SACE’s match-making events, increasing opportunities to find suitable business partners.

This is the second time that HSBC has successfully arranged SACE Push facility for a Vietnamese corporate, following the successful deal for Nutrifood in 2021.

SACE and SCIC sign MoU to strengthen cooperation between Italy and Vietnam Italian insurance and finance group SACE announced on October 24 that it had signed an MoU with the State Capital Investment Corporation (SCIC).

GELEX sets record revenue target of nearly $1.5 billion for 2025 GELEX Group JSC is aiming to achieve nearly VND38 trillion ($1.5 billion) in revenue for 2025, reflecting double-digit growth compared to 2024.

Italian agency plans $1.3 billion to boost trade and investment with Vietnam The Export Credit Agency of Italy (SACE) announced on May 8 that it is working on $1.3 billion worth of new projects to support trade and investment with Vietnam.