Advertisement
Advertisement
Plant loan won
CHINA'S State Development Bank (SDB) has secured a credit facility of US$75.11 million to import plant from Italy for an ammonia factory.
The loan is for 14 years and carries a fixed interest rate of 5.95 per cent.
The facility was arranged by Banca Commerciale Italiana and Chase Manhattan Asia.
The banks said the facility was well received with an oversubscription of 40 per cent. The syndicate comprised nine banks.
The ammonia plant will be imported on a turnkey basis, to be set up in Nanjing, Jiangsu province.
It will have an annual production capacity of 300,000 tonnes of liquid ammonia.
Post