The first bank of aluminum deep processing in Henan Province received the syndicated loan for the first time

For the first time, the aluminum deep processing project in Henan Province was supported by syndicated loans. On June 23rd, Luoyang Wanji Aluminum signed contracts with the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China and China Everbright Bank in Henan, and four banks joined hands to Wanji Aluminum to produce 350,000 tons of aluminum cold rolled steel. The "Strip" project provides a syndicated loan amounting to 1.84 billion yuan. This is also the biggest syndicated loan that our province has opened this year.

“This year is the first year for the Central Plains Economic Zone to become a national strategy. The capital needs of key projects of key enterprises in our province are very large.” The Bank of China is the lead bank for this syndicated loan, according to Bai Shuping, President of the Bank of China Henan Province Branch. Through syndicated loans, it is possible to promote the complementarity of various banks and provide support for the financing of large projects. It is also conducive to the dispersion and prevention of loan risks.

“Electrolytic aluminum is a pillar industry in Henan and is also one of the industries hit hard by the international financial crisis.” Analysts concerned, through the support of syndicated loans, Wanji Aluminum and other companies can make full use of electricity and electrolytic aluminum resources. Through the adjustment of industrial structure to achieve the post-crisis era, "turning overtaking."

According to reports, with the "annual production of 350,000 tons of aluminum cold-rolled strip" put into operation, Wanji Aluminum will become a rare domestic "coal, bauxite, alumina, power plant, electrolytic aluminum, aluminum processing" complete The large-scale coal-electricity aluminum group of the industrial chain, through stimulating related industries, the company’s total assets and annual sales revenue are expected to exceed RMB 20 billion.