Golden Towers (IFC-37255)

  • Vietnam
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 22, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
ACL ASEAN Tower Holdco Limited
The holder of the loan, grant, or other investment.
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 210.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 17, 2017

Disclosed by Bank Jan 19, 2016

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Project Description
Golden Towers (“GT” or the “Company”) is an independent tower company in Vietnam focused on acquiring existing tower assets and is the Vietnam headquartered operating subsidiary of ACL ASEAN Tower Holdco Limited, a holding company focused on ASEAN countries excluding Myanmar and Indonesia (“Parent”). As of December 2015, the Company has around 340 towers under ownership and management. The current project consists of providing financing to cover GT’s capital expenditure program for 2016-17 for the acquisition and construction of up to 5,800 telecom towers in Vietnam. The Project presents an important roll-up opportunity of the highly fragmented telecom tower market that can realize economies of scale under an experienced team and strong Sponsors.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
Srivats Kumar Chief Financial Officer ACL ASEAN Tower HoldCo (Cayman) / Golden Towers BTS JSC (Vietnam) +84 122 899 4568 +971 50 658 3464 Golden Towers BTS Corporation Floor 3-4, B9, C4-1, Hoang Van Thai street, Tan Phu ward District 7, Ho Chi Minh city, Vietnam General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384 E Mail: Webmaster ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at