Industrial Bank is Behind Energy-saving and Emission-cutting in Tianjin

By Chai Yanbin (Tianjin Daily)
Updated: 2007-09-19

The signing ceremony for Tianjin's first energy-efficient loan was held yesterday. Industrial Bank Tianjin Branch is to provide the Tianjin Zhenxing Cement Company, which is one of the city's primary cement producers, with a 5-year energy-efficient loan totaling at RMB 30 million Yuan. The loan is primarily to support the furnace revamp and a low temperature residual heat power generation project at the company.

It is understood that the low temperature residual heat power generation project is expected to be able to reduce annual consumption of standard coal by 22,420 tons and green house gas emissions by 61,600 tons once it has been put into operation. It has been listed as a recommended project in China's 11th Five-year Plan and medium-long term energy saving special plan.

At present, Tianjin ranks as one of China's top cities in terms of energy-saving and emission-cutting. However, with the large increase in infrastructure construction and industrial projects, pressure on new projects and current projects that are looking to revamp themselves from energy-saving and emission-cutting targets is set to increase.

In mind of this, Industrial Bank Tianjin Branch is constantly in the process of making energy-saving organizations and eligible companies aware of the conditions of use and benefits of energy-efficient loans. A loan deal was eventually sealed with the Tianjin Zhenxing Cement Company, which means that Industrial Bank is leading the way in the national finance sector in terms of implementing national policies on energy-conservation and emission-cutting.