China Minsheng Bank extends credit line to WISON Offshore & Marine of over 4 billion RMB

WISON Offshore & Marine Ltd has announced that it has been granted over 4 billion RMB line of credit by China Minsheng Bank (CMBC) in order to support its new order financing. This marks a new stage of the cooperation between both parties, and also reflects CMBC’s confidence in WISON Offshore & Marine’s development.

Recently, WISON Offshore & Marine has dedicated a significant amount of resources to the development of its capabilities in floating LNG (FLNG) liquefaction and storage units. These are estimated to be more cost-efficient and more fast track than land-based solutions in terms of delivering natural gas to market.

nder an engineering, procurement, construction, installation and commissioning (EPCIC) contract with EXMAR, the first FLNG facility in the world is being delivered at Wison’s shipyard in Nantong, China. In addition to this, Wison recently celebrated the keel-laying of the EXMAR FSRU project. This is a barged-based FLNG regasification unit, and will be the first FSRU undertaken and built by a Chinese company under an EPCIC contract.

The CEO of WISON Offshore & Marine, Mr. Cui Ying, said: “We highly appreciate the support and trust from CMBC. Our partnership with CMBC will enhance our financial capabilities and reinforce our investment in expanding our strategic and innovative product portfolios, such as FLNG and Buoyant Tower.

“The strong financial support from CMBC also enables us to develop our strategy of becoming a global leader in large-scale modules fabrication to support the large EPC contractors through our world-class fabrication facilities in China.

“Wison has been always committed to providing first-class products and services at international standards for the global oil & gas industry.”

Edited from press release by David Rowlands

Read the article online at: https://www.lngindustry.com/floating-lng/02112015/china-minsheng-bank-extends-credit-line-to-wison-offshore-marine-of-over-4-billion-rmb-1561/