14 July 2009 10:58 [Source: ICIS news]
SHANGHAI (ICIS news)--Anhui Huasu, a petrochemical producer in China’s eastern Anhui province, has received a syndicated loan of yuan (CNY) 6bn ($877m) for the construction of a polyvinyl chloride (PVC) plant, a source from the Anhui Banking Association said on Tuesday.
The syndicated loan – obtained this week from the Construction Bank, the Bank of Communications, Huishang Bank and Huaxia Bank – would be invested in the construction of the firm's 1m tonne/year PVC plant at Hefei, in Anhui province, the source said.
The construction of the plant, which is to cost CNY7.5bn, began in April.
The plant was expected to come on stream in May 2011, the source added.
($1 = CNY6.84)For more on PVC visit ICIS chemical intelligence
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