SEP Completes Facility Agreement Signing for Turkey Hunutlu Thermal Power Plant Project under Belt and Road Initiative
Recently, the facility agreement signing ceremony for Turkey Hunutlu Thermal Power Plant Project under the Belt and Road Initiative was held at SEP's headquarters. The major leaders of SEP, Turkey EMBA Electricity Production Inc. (EMBA), China Development Bank (CDB) Shanghai Branch, Industrial and Commercial Bank of China (ICBC) Shanghai Branch, Bank of China (BOC) Shanghai Branch, Industrial and Commercial Bank of China Turkey Bank A.S. and related representatives were present at the ceremony. SEP Chairman Wang Yundan, Deputy President Huang Chen and CFO Chen Wenhao attended the ceremony, presided over by Chen Wenhao.
Wang Yundan stated that Hunutlu Thermal Power Plant Project is a key project under the Belt and Road Initiative and Turkey's Middle Corridor plan, and is also the largest direct investment project carried out by Chinese enterprise in Turkey, which enabled Chinese equipment, technology and capital to "band together" to go global. So far, the site excavation for Hunutlu Thermal Power Plant has finished, and the first concrete date is expected within this year. Thanks to the project financing syndication led by CDB, the project financing established an innovative financing structure suitable for Chinese enterprise to go global, and the facility agreement is about to be signed through concerted efforts by various financing parties, marking a significant milestone for the project. SEP has the determination and confidence to construct the project into a clean, efficient, reliable and beautiful world-class power plant, a crown jewel of the power industry around the Mediterranean Sea, which will not only bring expected returns to the shareholders, but also fulfill the commitments to the syndication, in order to realize multi-win eventually.
CDB Shanghai Branch President Zhong Gang, ICBC Shanghai Branch Vice President Zhang Xiaoqi, BOC Shanghai Branch Party Committee Member Zhang Xinyuan delivered speeches and expressed congratulations on the facility agreement signing ceremony for Turkey Hunutlu Thermal Power Plant Project on behalf of various syndicate members.
Afterwards, witnessed by the leaders of various parties, the representatives from all parties officially signed the facility agreement on Turkey Hunutlu Thermal Power Plant Project.
CDB Shanghai Branch acted as the arranger of the project syndication, which will provide a 15-year $1.381 billion loan for the project. The successful signing of the facility agreement indicates that the project construction will enter into a fast-growth period.
SEP General Counsel as well as related leaders of SEP General Office, Finance Department, International Business Department, EMBA, etc. participated in the signing ceremony.