Wison Offshore & Marine gets $600M boost
Wison Offshore & Marine has been granted a 4-billion-RMB line of credit by China Minsheng Bank (CMBC) to support its new order financing. Converted to US dollars, the loan is worth around $631 million.
Cui Ying, CEO of WISON Offshore & Marine said the loan would boost the company’s financial capabilities and reinforce its investment in expanding product portfolios, such as FLNG and Buoyant Tower.
Currently, an FLNG unit is being built at Wison‘s yard in Nantong under an engineering, procurement, construction, installation and commissioning (EPCIC) contract with EXMAR. Also, Wison recently hosted the keel-laying of EXMAR FSRU project, a barged-based floating LNG regasification unit, which is the first China-made FSRU undertaken by a Chinese company under an EPCIC contract.
“The strong financial support from CMBC also enables us to develop our strategy of becoming a global leader in large-scale modules fabrication to support the large EPC contractors through our world-class fabrication facilities in China. Wison has been always committed to providing first-class products and services at international standards for the global oil & gas industry,” Cui added.