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BOC grants 20b yuan in loans to shipping firm

(chinadaily.com.cn)
Updated: 2009-05-12 16:18

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Bank of China (BOC) Shanghai branch recently approved syndicated loans worth nearly 20 billion yuan ($2.93 billion), which will be provided to COSCO Container Lines Co Ltd (COSCON) in the next three years.

BOC Shanghai branch will grant a credit line of $1.75 billion in the coming two years for the construction and operation of 28 COSCON container vessels. Meanwhile, it will offer $1 billion in liquidity loans in the next three years to help cover the company's operating costs.

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