Gelonghui, March 25 | Binhai Investment (02886.HK) announced that Tianjin Teda Binhai Clean Energy Group Co., Ltd., a wholly-owned subsidiary of the company, received a total project loan of 727.6 million yuan from the Tianjin Branch of the China Development Bank (“CDB Tianjin”) for two major gas pipeline projects (“projects”). The period can cover the overall payback period of the project separately. Interest rates have a major advantage over project loans obtained by the Group from other financial institutions. Binhai Investment (Tianjin) Co., Ltd., a wholly-owned subsidiary of the company, provides joint and several liability guarantees for project loans.

The company believes that the loan cost and term of project loans have obvious advantages, providing long-term stable financial support for project construction, effectively optimizing the project funding structure, and reducing short-term debt pressure. At the same time, the project loan was also another successful signing between the Group and CDB Tianjin after the Tianjin Military Liangcheng project, laying a good foundation for the two sides to continue deepening cooperation with the support of the country's “dual carbon” strategy.