RSHI Enters Strategic Agreement Obtaining USD 1.7 Billion Credit Line from China CITIC Bank

RSHI enters into a strategic cooperative agreement obtaining a RMB11 billion (approx USD 1.7 billion) credit line from China CITIC Bank. This comprehensive and in-depth strategic cooperation with China CITIC Bank benefits the Group’s four business segments. In view of the macroeconomic austerity measures such as tightening monetary policy and standardisation of financing implemented by the Chinese government, such a sizeable credit line demonstrates the strong industry position of China Rongsheng Heavy Industries, the confidence of the banking community in its prospects, as well as Government support for the industry.

China CITIC Bank and China Rongsheng Heavy Industries had been closely and strategically collaborated with each other for a long time. This time, China Rongsheng Heavy Industries will engage in comprehensive strategic cooperation with the Nanjing Branch of China CITIC Bank, highlighted by a credit line of RMB9 billion to be awarded to Jiangsu Rongsheng Heavy Industries Co., Ltd. for constructing a world-class shipbuilding and offshore engineering base. The Hefei Branch will grant a credit line of RMB2 billion to China Rongsheng Heavy Industries for use in its engineering machinery and marine engine building segments to support its rapid development. RMB900 million of the facility from the Hefei Branch is a mid- to long-term loan for the engineering machinery segment. A signing ceremony marking the loan grant was officiated by Mr. Jiao Shijing, Member of China CITIC Bank’s CPC Committee and President of the Nanjing Branch of China CITIC Bank, Mr. He Xiaolong, President of the Hefei Branch of China CITIC Bank and Mr. Chen Qiang, Chief Executive Officer of China Rongsheng Heavy Industries.

Founded in 1987, China CITIC Bank is the first national commercial bank established after China’s reform and opening. China CITIC Bank co-listed in Shanghai and Hong Kong on 27 April 2007. After more than two decades growth, China CITIC Bank has become one of commercial banks with strong capital, enjoying rapid growth as it has become an integrated competitive power in China. It is also one of the banks with the longest duration of cooperation with China Rongsheng Heavy Industries.

Source: rshi, June 29, 2011;

Share this article

Follow World Maritime News

Posted on June 29, 2011

In Depth>

Events>

<< Feb 2016 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 1 2 3 4 5 6

PUMPS & VALVES 2016

The 16th edition of PUMPS & VALVES in co-location with Maintenance, 20 and 21 April 2016 in Antwerp expo, will present a complete overview of all the technologies and innovations in the field of industrial pumps, valves and seals.

The exhibition will feature industrial pumps, control valves, valves, seals, filters and filtration, processing equipment, piping & pipelines, services for industry, governmental agencies & pipeline operators.

Pumps and Valves’ second duo edition, co-located with Maintenance, enjoyed a solid 8% increase in visitors with a total of 5.492 visitors.

read more >

FPSO Europe Congress

Why Attend the 2nd Annual FPSO Europe Congress?
Discover how FPSO leaders are embracing the new realities of a low oil price environment – what are the strategies to adopt in pursuit of viable economical FPSO projects?…

read more >

Port & Terminal Technology Conference & Exhibition 2016

MCI Media Limited are hosting the 8th International Port & Terminal Technology Conference & Exhibition in Charleston, SC.

This year, we are delighted to welcome South Carolina Ports Authority as official supporters.

Having established itself as a “must-attend” key industry event, Port & Terminal Technology will deliver an informative and technical conference programme complemented by an impressive line-up of industry experts.

Exploring the latest developments, issues, trends and technology affecting ports and terminals around the globe, the conference will provide delegates an invaluable learning opportunity as well as an excellent platform for discussion, debate and networking.

Port & Terminal Technology is specially designed for representatives from operations, maintenance and engineering from port authorities, terminal operators, consultancy firms, dredging contractors, maritime construction firms and suppliers of cargo handling equipment and those involved in the effective development and operation of container ports and terminals.

The conference is complemented by an intimate exhibition, comprising a select handful of elite market leaders, enabling companies to reach a niche target audience, showcase their products and network with potential, new and existing clients.

read more >

World Water Works 2016

Rising sea levels, ever-larger container ships, increased pressure on the accessibility of ports and waterways and the associated infrastructural requirements are all global problems.

The time is ripe for sustainable solutions which are both financially feasible and ecologically responsible.

Conference and exhibition

The two-day international hydraulic engineering conference and exhibition World Water Works on 23 and 24 March 2016 at Antwerp Expo brings together science, industry practices and trends related to:

– Hydraulic engineering
– Accessibility of ports and waterways
– Coastline and shoreline projects
– The construction of bridges, locks and tunnels
– Future offshore sea ports

read more >