Cosco secures $3.14bn financing

Cosco shipyard

c has clinched RMB20bn ($3.14bn) in financing from the China Development Bank, to be disbursed over the next 5 years.

The partnership will also involve investments, bonds, leasing, securities and other financial products, according to a Cosco statement.

Cosco and its lender also agreed a $160m loan that will be used to boost the liquidity of its Dalian-based shipyard.

 

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