Overview

ICBC Leasing provides USD 900 million lending facility to Jaccar to finance the construction of eight gas carrier ships

Commitments (Constant USD, 2023)$941,578,543

Commitment Year•2015Country of Activity•FranceDirect Recipient Country of Incorporation•LuxembourgSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 2, 2015

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned companies

ICBC Financial Leasing Co., Ltd. (ICBCFL) (ICBC Leasing)

Receiving agencies

Private Sector

Jaccar Holdings

Implementing agencies

Private Sector

Sinopacific Shipbuilding Group Co. Ltd

Loan description

ICBC Leasing provides USD 900 million lending facility to Jaccar to finance the construction of eight gas carrier ships

Interest type•Unknown

Narrative

Full Description

Project narrative

On July 2, 2015, ICBC signed an agreement with France-based holding company Jaccar Holdings to provide a USD 900 million lending facility. Proceeds from the facility will be used to finance the construction of eight gas carrier ships, all to be built at Sinopacific Shipbuilding in China. The eight ships consist of five very large ethane carriers (VLEC) and three multipurpose gas carriers. Other lending details, including delivery details on the ship themselves, are unknown. The signing ceremony was attended by Chinese Premier Li Keqiang and French Prime Minister Manuel Valls.