CCB goes hand in hand with Ertan Company to match the strategy of West-East Electricity Transition Project and offer RMB 30 bln facility to support the development of Yalongjiang River Valley.

Sep. 14—China Construction Bank Corporation (CCB) and Ertan Hydropower Development Ltd. Company jointly held a signing ceremony of Financial Cooperation Agreement on Hydropower Development Project of Yalongjiang River Valley in Chengdu. CCB will offer RMB 30 billion financial support to Yalongjiang River Valley, which signifies that the business cooperation between CCB and Ertan Hydropower Development Ltd. Company has entered a new stage.

Since the construction of Ertan Hydropower Station, CCB has provided long-term and comprehensive financial support and services to it in many business fields including long and medium-term credit, pricing and settlement and played a positive role in its successful completion of construction and sound operation.

According to the strategic planning of west-east electricity transmission project, Ertan Hydropower Development Ltd. Company will establish and manage hydropower station in Yalongjiang River Valley, lower and middle reaches of which is one of the twelve largest hydropower bases. The cooperation agreement signed between CCB and Ertan Company says clearly that CCB will offer RMB 30 billion financial support and comprehensive services to Ertan Company in its construction and development of Yalongjiang River Valley, and the cooperation in project financing, settlement, international finance, consultation and company-tailored financial products portfolio will be conducted.

The signing of the cooperation agreement between CCB and Ertan Company indicates that the long-term, close and stable strategic cooperation partnership is further strengthened. The two parties will collaborate in a more extensive regards to reach a win-win goal hand in hand.