06
Jun
12:27
Malaysia’s first Chinese bank loans to steel project
Union Iron and Steel Malaysia, a 3.5 million tonnes/year steelworks project, has secured a credit facility from China Construction Bank (Malaysia), the south-east Asian country's first foreign-owned commercial bank. The $1 billion credit line will be spent on commissioning the plant by the end of the year and bringing it to capacity, Kallanish notes.
The bank received its licence in November last year and signed its first 13 agreements last week. Union …
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