📋 Tender Overview
Project Number: 47788
Company Name: XINGTONG SHIPPING CO., LTD.
Date SPI Disclosed: Sep 24, 2024
Country: China
Region: East Asia and the Pacific
Projected Board Date: Oct 31, 2024
Environmental Category: B
Status: Pending Approval
Department: Regional Industry - INF Asia & Pac
Project Description
IFC proposes to provide a 10-year green loan package of RMB 431 million (c. US$59 million) from IFC’s own account to two wholly owned ship-owning subsidiaries of Xingtong Shipping Co., Ltd. ( Xingtong or the Company ), a leading private company engaged in chemical shipping in China that has recently started expanding overseas. The loan package is to finance these two subsidiaries’ purchase of two new-build chemical tanker vessels (25,900 deadweight ton ( DWT ) each) that will be deployed in the international market (the Project Vessels ). The Project Vessels are equipped with dual-fuel engines and are green methanol-ready, contributing to the green transition of the shipping sector. They will also be equipped with International Maritime Organization ( IMO )-compliant ballast water treatment systems which would count as blue activities aligning with the Guidelines for Blue Finance.
Total Project Cost and amount and nature of IFC's Investment: The total project cost is estimated to be US$85 million (RMB 616 million), which is to be financed by a combination of IFC loan and the Company’s equity.
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington, DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
