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Wan LixinOpinion deputy editor of Shanghai Daily
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IFC signs deal for fertilizer plant
May 20, 2009, Wednesday
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Print Edition
Print Edition
IFC has signed a US$20-million loan and a US$10-million equity investment with a Chinese company in Sichuan Province to help the southwest China region recover from a devastating earthquake last year.
The agreement, which is to finance the construction of a 450,000-ton-per-annum fertilizer plant, is expected to improve the living standards of local farmers, said the IFC, a member of the World Bank, in a statement released on Monday. Providing equity and long-term debt will enable the company to complete the construction of the plant and satisfy its financing needs over the next nine years.
The agreement, which is to finance the construction of a 450,000-ton-per-annum fertilizer plant, is expected to improve the living standards of local farmers, said the IFC, a member of the World Bank, in a statement released on Monday. Providing equity and long-term debt will enable the company to complete the construction of the plant and satisfy its financing needs over the next nine years.
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