STX Darien Shipbuilding raises 2.85 billion yuan in China
STX Darien Shipbuilding Yard succeeded in raising 2.85 billion yuan, an equivalent to 560 billion won, to complete the construction of Darien plant 2.
STX Group disclosed on April 14 that STX Darien Precision Engineering Co. Ltd., and STX Darien Engine Co. Ltd succeeded in raising 1.35 billion yuan and 1.5 billion yuan respectively from local financial institutions including China Construction Bank Corporation.
Under the loan condition, a 9-year maturity and an interest rate of 6.136 percent will be applied.
The loans will be used to complete the construction of Darien plant 2 which encompasses facilities for manufacturing engines and cast-forging process as well as industrial plants. The STX Daren production facility will consist of the plant 2, which is currently under construction, and the plant 1 that includes shipyard and marine plants built late last year. STX disclosed that the company plans to complete the construction of the plant 2 within this year backed by the capital raised.
Upon the completion of the plant 2, the STX Darien production facility, which covers 1.7 million pyong, or 5.50?, will be equipped with a consistent production system where the construction of vessels can be executed in one place.
STX Group disclosed on April 14 that STX Darien Precision Engineering Co. Ltd., and STX Darien Engine Co. Ltd succeeded in raising 1.35 billion yuan and 1.5 billion yuan respectively from local financial institutions including China Construction Bank Corporation.
Under the loan condition, a 9-year maturity and an interest rate of 6.136 percent will be applied.
The loans will be used to complete the construction of Darien plant 2 which encompasses facilities for manufacturing engines and cast-forging process as well as industrial plants. The STX Daren production facility will consist of the plant 2, which is currently under construction, and the plant 1 that includes shipyard and marine plants built late last year. STX disclosed that the company plans to complete the construction of the plant 2 within this year backed by the capital raised.
Upon the completion of the plant 2, the STX Darien production facility, which covers 1.7 million pyong, or 5.50?, will be equipped with a consistent production system where the construction of vessels can be executed in one place.