HP Impact: Huge China JV grassroots project secures financing
A loan package comprising $1.8-billion equivalent in debt financinghas been provided to the Shanghai SECCO Petrochemical CompanyLimited (SECCO). This is the largest debt financing that a Chineseenterp..
A loan package comprising $1.8-billion equivalent in debt financing
has been provided to the Shanghai SECCO Petrochemical Company
Limited (SECCO). This is the largest debt financing that a Chinese
enterprise has entered into since the Asian economic crisis in
It is also the largest loan package provided to a Chinese foreign
joint venture (JV) by a combination of onshore and offshore banks
since China's entry to the WTO. Total investment cost of the
project is estimated at $2.7 billion.
SECCO is a Sino-foreign equity JV recently formed by BP Chemicals
East China Investments Ltd. (50%), China Petrochemical Company Ltd.
(30%) and Sinopec Shanghai Petrochemical Company
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