COSCO Signs Concession Agreement with PPA

2008/12/05

On December 4th, COSCO and BOC (Bank of China) jointly held a signing ceremony for the benchmarking Strategic Agreement. The cooperation can be traced back to 1960s, BOC has been providing COSCO Group with loans to buy and build vessels. In order to further enhance the cooperation, the newly signed agreement covers broader areas including corporate banking, investment banking and insurance businesses. Under the framework, BOC will grant COSCO a credit line of no more than 74.5 billion RMB (or its equivalent).

Capt. Wei and BOC President, Mr. Li Li-Hui signed the agreement. Top management from both parties attended the signing, they are, Mr. Xiao Gang, BOC Chairman, President Li Lihui and other BOC top management members, Capt. Wei and Mr. Zhang Fusheng plus Mr. Chen Hongsheng, Mr. Li Jianhong, Capt. Xu Lirong, Madam Sun Yue Ying, Chief Legal Advisor Liu Guoyuan.

 

COSCO Group