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CSSC seals $5.8bn financing deal

CSSC seals $5.8bn financing deal
State-run China State Shipbuilding Corp (CSSC), which overseas yards in central and southern China, has sealed a major financing deal with a local bank.

Bank of Communications is stumping up RMB40bn ($5.8bn) over a five-year period to help tide the group over a slump in business.

CSSC has seen its orderbook hit hard by the downturn, with the group now pursuing a serious restructuring.

source: splash247

 
 

 

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