Finance and InsuranceGreater ChinaShipyards
Waigaoqiao Shipbuilding secures $296m credit facility
CSSC-affiliated Shanghai Waigaoqiao Shipbuilding has signed a loan agreement yesterday with CSSC Finance Company, China Industrial Bank and Shanghai Pudong Development Bank.
Under the agreement, the three financiers will jointly provide a RMB2bn ($296m) credit facility to Waigaoqiao Shipbuilding over the next three years.
Waigaoqiao Shipbuilding currently has a volume of 2.9m cgt of orders on hand, ranked number one among Chinese shipyards.