Joint loan of US $186 million and RMB 650 million between Fuxin Special Steel Co., Ltd., Bank of Taiwan and other banks
Joint loan of US $186 million and RMB 650 million between Fuxin Special Steel Co., Ltd., Bank of Taiwan and other banks
(Taiwan Business News) Fujian Fuxin Special Steel Co., Ltd. in order to meet the needs of its plant expansion, purchase of machinery and equipment and repayment of bank loans in Zhangzhou, Fujian Province, the Bank of Taiwan, United overseas Bank of Singapore and Cooperative Treasury Commercial Bank co-sponsored the joint credit project of US $186 million and RMB 650 million, which completed the signing of the joint loan on June 4, 2014. The signing ceremony was co-chaired by Li Zhicun, Chairman of Taiwan Plastics Industry (Stock) Company and Fujian Fuxin, and Li Jizhu, Chairman of the Bank of Taiwan.
The joint loan case is managed by the Bank of Taiwan. the participating banks include Singapore United overseas Bank, Cooperative Treasury Commercial Bank, South China Commercial Bank, Changhua Commercial Bank, Taiwan Land Bank, Taiwan small and medium Enterprises Bank, Citibank, Yongfeng Bank and DBS Bank. The joint loan case was successfully completed and oversubscribed up to 1.23 times the original launch amount. Show the financial industry's support for Fujian Fuxin and Formosa Plastics Group.
Fujian Fuxin is located in Longchi Industrial Park, Zhangzhou City, Fujian Province. its main products are stainless steel embryo, black skin steel coil and white skin steel coil, with an annual output of about 720000 tons of stainless steel hot rolled coil. construction of the plant began in July 2011. it mainly introduces advanced technology and equipment such as Germany West Mark (SMS-Siemag), Japan Mitsubishi Hitachi (MH) and Toshiba Mitsubishi (TMEIC), as well as Austria Andritz. And adopt advanced vacuum refining furnace. The construction of the three main plants (steelmaking plant, hot rolling plant and deacidizing plant) was completed in 2012, and the related equipment has gradually entered the stage of installation, commissioning and commissioning, of which the steelmaking plant began hot commissioning in May 2013, with the plant entering full capacity mass production one after another. the future investment benefits should be revealed.
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