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China : CHINA DEVELOPMENT BANK to provide RMB50 billion credit facility to CHINA SHIPPING GROUP

May 26, 2014

China Shipping Group and China Development Bank (CDB) have entered into a strategic agreement in order to further their partnership in financing.

The agreement will see CDB offering credit facility of RMB50 billion to China Shipping Group to expand business in the next 5-year.

The two parties would also seek cooperation opportunities in other investment areas, said China Shipping Group.

In April 2014, China Shipping Group inked an agreement with APM Terminals, the ports arm of A.P. Moller-Maersk on the development of Zeebrugge terminal. Both the companies will also negotiate the possibility to cooperate on other container terminal projects.

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Source: TendersInfo (India)

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