ICBC Took the Lead in Organizing Domestic Banking Consortium for Syndicated Loan on China Largest Potassium Salt Project

Recently, ICBC together with Agriculture Bank of China and China Merchant Bank Limited signed Cooperation Agreement of Syndicated Loan on National Invested Xinjiang Luobupo Potassium Salt Project. According to the agreement, ICBC, acting as the leading bank and correspondent bank, organized the syndicated loan in partnership with Agriculture Bank of China and China Merchant Bank to provide RMB 2.6 billion financing to the project of China largest potassium fertilizer base Xinjiang Luobupo potassium fertilizer base, which has an annual production of 1.2 million tons.

Luobupo dry salt lake is the largest one in the world. It is also one of the two largest potassium salt mines remained in China. This project will help solve the long-time problems of serious shortage and heavy import of potassium in China when completed. It has obvious resources advantages and great market potential.