China Minsheng Bank (CMBC) has granted more than CNY4bn ($630m) of credit to Wison Offshore & Marine to support the company’s new order financing.
The latest development is part of an agreement signed by Wison Offshore & Marine’s parent company Wison Group and CMBC.
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Under the agreement, CMBCC will extend a credit line of CNY5bn ($788m) to Wison Group.
Wison Offshore & Marine CEO Cui Ying said: "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."
According to Wison, the company’s floating LNG liquefaction and storage (FLNG) facilities are expected to be fast-track and cost-efficient solutions to deliver gas to market.
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By GlobalDataUnder an engineering, procurement, construction, installation and commissioning (EPCIC) contract with Exmar, currently an operational FLNG facility is being delivered at Wison’s yard located in Nantong.
In October, Wison celebrated the keel-laying of the Exmar FSRU project, a barged-based floating LNG regasification unit in Nantong, China.
The company agreed to provide engineering, procurement, construction, installation and commissioning (EPCIC) solution to the project.
