On 8 November 2006, Yantian International Container Terminals (Phase III) Limited (YICT) announced that it has signed a HK$6.8 billion 5-year term loan facility (the "Facility") with a consortium of banks including the Industrial and Commercial Bank of China Limited, China Construction Bank Corporation, Bank of China Limited and Agricultural Bank of China. According to the Facility, the consortium will provide YICT with loan facilities in HK dollars, US dollars and RMB, totalling HK$6.8 billion, to finance the construction and development of the Yantian Port Container Terminal Expansion Project.
With a total investment of over RMB10 billion, the Expansion Project includes six deep-water container berths, capable of accommodating the world's largest container vessels. The first two berths commenced operations on 1 September 2006. The remaining four berths are due to be completed by the end of 2009. The entire project is estimated to be completed by 2010. Upon completion, YICT will have sufficient capacity to handle cargo traffic growth in the region.
The Facility signed plays an important role in the construction of Yantian Port Container Terminal Expansion Project.
The Consortium includes the following banks:
Coordinating Arrangers
Industrial and Commercial Bank of China Limited
China Construction Bank Corporation
Arranger
Bank of China
Agricultural Bank of China Limited
Facility Agent
Industrial and Commercial Bank of China Limited