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|Sunday, January 21, 2001, updated at 16:15(GMT+8)|
A 170m Loan in Support of Mongolian Zinc MineAn agreement was signed by the Exp-Imp Bank of China and China Nonferrous Metal Industry's Foreign Engineering and Construction Corporation Ltd. (NFC) in Beijing January 20 for a 170m yuan loan to be provided for the construction of a zinc mine in Mongolia.
Involving a total investment of US$ 42.2m, the zinc mine, when completed, will have an annual production capacity of 68,000 tons of zinc concentrate extracted from 300,000 tons of ore.
The Mongolian zinc mine is the largest resource-development project backed by the preferential loan from the Chinese government, and so far the biggest Chinese-invested project in Mongolia. Implementation of this project will make it possible to use foreign resources and boost China's export of complete sets of equipment; it will also help create more employment opportunities for Mongolia, having fairly good social effect.
As a national export credit institution, the Bank has always given all-out support to the development of an export-oriented economy and regarded the export of large hi-tech electromechanical products and complete sets of equipment as the focus of financing support, and made full use of the comprehensive advantages of such policy-related financial means as export credit, export credit insurance and foreign guarantee, thereby playing a positive role in spurring Chinese enterprises to expand international markets.
By PD Online staff member Li Heng
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