Shui On Group to borrow RMB 13bn from ABC

Shui On Group to borrow RMB 13bn from ABC
Published: 20 February 2009

Shui On Group, a property development, construction and construction materials enterprise with interests in Hong Kong and China mainland, has secured a three-year, RMB13bn loan from Agricultural Bank of China (ABC), sources reported.

As per the agreement signed by the group and the bank, RMB 8 billion will be used in real estate development and the remaining amount will be used for a cement project, managed by Shui On Construction and Materials Ltd and Lafarge, which is the largest cement producer in the world.