Expansion project secures loan

PUBLISHED : Saturday, 07 February, 1998, 12:00am
UPDATED : Saturday, 07 February, 1998, 12:00am

H share Shanghai Petrochemical has secured a syndicated loan of US$21.83 million for its ethylene expansion project, Xinhua news agency said. The loan is arranged by the Shanghai branches of China Construction Bank, Chase Manhattan Bank, Industrial Bank of Japan and Kredietbank. The firm is aiming to raise production capacity at its ethylene plant to 400,000 tonnes.