CHD’s Preah Sihanouk Project Held a “Cloud Signing” Ceremony in Financing Agreement

from:China Huadian Corporation

BEIJING, April 15 -- The “Cloud Signing” ceremony for the project financing of the 2X350MW coal-fired power plant was conducted through video conferencing and was joined remotely by concerning parties in Beijing, Hong Kong, Phnom Penh and Preah Sihanouk respectively. Mr. Shao Guoyong, Chief Accountant of CHD, and HE Mr. Wang Wentian, Ambassador of the People's Republic of China to Cambodia, were present and had witnessed the proceeding of the ceremony; Mr. Fang Zheng, Executive Director of CHD Hong Kong had participated the ceremony and given keynote speech; also present at the event were Mr. Wu Guoquan, Commercial Counsellor of the Embassy of PRC in the kingdom of Cambodia; Mr. Gou Wei, Director General of CHD’s Corporate Finance and Risks Management Department; Mr. Zhao Yuanbo, Chairman of China Huadian Overseas Asset Management Co., Ltd.; Mr. Gao Ming, Chairman of ICBC Asia and Mr. Jing Jun, Director General of ICBC Phnom Penh Branch. CHD’s Director General of International Business Department, Mr. Liu Lei had conducted the ceremony.  


On behalf of the project and the embassy respectively, Fang Zheng and Wu Guoquan had expressed their welcome to the ceremony and spoken highly of it, and elaborated on the vision and far-reaching significance of the China-Cambodia friendship and the implementation of projects under the Belt and Road Initiative in Cambodia.


A commemorative plaque was given by Gou Wei to ICBC Asia and its Phnom Penh branch, while appreciation was also extended to the Chinese Embassy for their assistance and support on the project in Preah Sihanouk. The project will be a further step towards the continuous implementation of the Belt and Road Initiative, prompting potential contribution to Cambodian social and economic development while further deepening cooperation in key sectors.


Gao Ming and Jing Jun, on behalf of the banking and financing party, had said in their speeches that they would continue to prevent and control the disease through meticulous work, and provide high-quality and comprehensive financial services to the project company, construction unit and supporting enterprises, so as to promote the steady development in project financing.


At the signing ceremony, Mr. Li Yuanzhi, Chief Accountant of CHD Hong Kong, and Mr. Le Jianhua, Executive Director of CHD’s subsidiary in Preah Sihanouk, had signed the shareholder support agreement and loan agreement respectively with Mr. Wu Long, Chief Executive of ICBC Asia, and Jing Jun, Director General of ICBC's Phnom Penh Branch. Under the terms of the agreement, ICBC Asia will take the lead exclusively in limited recourse project financing, and provide a USD 600 million loan for the Preah Sihanouk project together with its Phnom Penh Branch. The signing of the financing agreement marks the completion of the preliminary development work of the project, leading to the formal construction stage.


Wu Long, Chief Executive of ICBC Asia, Li Dong, Executive Vice President of ICBC Asia, Deng Yan, Deputy Director General of ICBC Phnom Penh Branch, concerning corporate parties of CHD, Luo Jiman and Li Yuanzhi, Deputy General Manager and Chief Accountant of CHD Hong Kong, other responsible persons of the Preah Sihanouk subsidiary and China Huadian Overseas Asset Management Co., Ltd. had also attended the event.


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