China’s Exim Bank to fund US$1.7b refinery in Cambodia
Print Edition
The Export-Import Bank of China yesterday signed an agreement to fund a US$1.7 billion loan to a Cambodian company for the construction of an oil refinery.
The loan deal was inked between Exim Bank’s Chairman Li Ruogu and Hann Khieng, president of local project partner Cambodian Petrochemical Co, in the presence of Cambodian Deputy Prime Minister Keat Chhon and Finance Minister Aun Porn Moniroth.
The agreement came after the Cambodian Petrochemical Co and several Chinese firms signed in April a Memorandum of Understanding to jointly build a 5-million-ton oil refinery project in Cambodia with the investment amount of US$1.7 billion.
Speaking after the signing ceremony, Keat Chhon said: “The project will be hugely contributing to developing the economy and reducing poverty when it comes to fruition.”
Li said China and Cambodia are close friends and the Exim Bank will continue to help Cambodia in order to further deepen the Sino-Cambodian ties.
“The Exim Bank believes that the oil refinery project will contribute to developing Cambodian economy and society,” he said.
Cambodian Prime Minister Hun Sen on Monday urged Sinopec, the world’s fourth-largest oil producer, to expedite its process to build the oil refinery by 2018, according to a spokesman.
The premier made the request during a meeting with Cai Xiyou, the visiting senior vice president of Sinopec, which is one of the major stakeholders in the project.
Cai promised the premier that Sinopec would push forward the construction as soon as possible.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
