Financing deal for $ 350 m signed with China Development Bank for Colombo new terminal

Monday, 25 June 2012 00:02 - - {{hitsCtrl.values.hits}}

The China Merchant Harbour International (CMHI), CICT and China Development Bank have recently signed a financing agreement of the total amount of US$ 350 million in Sri Lanka Colombo Port expansion project in Shenzhen. It marks the final financing agreement reached by CMHI for its first overseas BOT project.

Dr Fu Yuning, Chairman of China Merchants Group & CMHI, and Mr Zheng Zhijie, Executive Vice President of China Development Bank (“CDB”), attended the ceremony. They delivered important speeches highly praising the two sides through hard work and close cooperation to complete the $ 350 million financing cooperation, that this is an important milestone of the development of overseas project through bank-enterprise cooperation.

Mr Wang Weidong, President of CDB’s Shenzhen Branch, Dr Hu Jianhua, Managing Director of CMHI, and Mr Nelson Liu, CEO of CICT, signed the agreement representing the three parties. Senior executives from CDB, CMG and CMHI witnessed the signing.

CDB is an important development financial institution, and the main long-term investment & financing bank. In recent years, after rapid development of international cooperation in business, it has become the strong support of Chinese enterprises going global to the overseas markets. CICT plans a total investment of about US$ 500 million. A total US$ 350 million loan will provide full financial support for the project to complete the construction on schedule and be put into operation steadily.

At the meeting, China Merchants Group and CDB also signed a financial cooperation agreement for development to strengthen cooperation for the future in many fields