26 Apr Grand City Investment Ltd has provided a $50 million trade finance facility to CNTIC

Grand City Investment Limited, a global finance firm based in Hong Kong, has provided a $50 million trade finance facility to CNTIC.

This facility will be utilized for an electricity generation project in rural Myanmar.

Grand City Investment trade finance facilities

Grand City Investment Limited (Hong Kong) has extended a $50 million account receivable purchase facility to China National Technical Import & Export Corporation (CNTIC) for the development of a gas-fired power generation project in Myanmar. This significant financial support was announced by the company.

The funding, secured by China Export & Credit Insurance Corporation, is aimed at facilitating the construction of a 90MW power plant in Myingyan township, located in the Mandalay region. The project is being spearheaded by VPower, a Hong Kong-based company, under a 5-year power purchase agreement with Electric Power Generation Enterprise (EPGE) of Myanmar.

In addition to its core operations, VPower has taken proactive steps to enhance the local community’s well-being through job creation and infrastructure improvements. CNTIC has been entrusted with the role of engineering, procurement, and construction (EPC) contractor for this venture, which commenced commercial operations in February 2019 and is expected to produce a minimum of 630GW hours of electricity annually.

CNTIC and VPower have established a strong collaborative relationship over the years, successfully delivering power projects in a timely manner. Grand City Investment Limited, a reputable Hong Kong-based Money Lender, has been a key financial partner to CNTIC, providing essential capital for various global projects.

Grand City Investment Limited, known for its expertise in trade finance, recourse loans, non-recourse loans, and international project funding, continues to play a pivotal role in supporting impactful ventures worldwide. 

About Grand City Investment Limited: Founded on May 29, 1984, in Hong Kong, Grand City Investment Limited is a prominent provider of financial services, with Company Registration No. 0137353. Business loans, project funding, investments, wealth management, PPP/trade platforms, and the issuing and monetization of bank guarantees, letters of credit, SBLCs, and other financial instruments are just a few of the services they offer. 

About CNTIC: China National Technical Import and Export Corporation (CNTIC; 中国技术进出口集团有限公司) is a Chinese state-owned global trading company and engineering firm. Throughout the history of the People’s Republic,CNTIC has served as a key enabler of equipment and technology transfer to China, and an important service provider in the export of complete equipment, international project contracting and project management. With its business covering 105 countries and regions worldwide, CNTIC has completed more than 7,500 projects with a total value of over $120 billion. 

The company is active in the fields of electricity generation, transportation, communications, petrochemicals, metallurgy, building materials, electronics, mechanical engineering, pharmaceuticals, agriculture, forestry and education. As one of the world’s largest factory and plant manufacturers, CNTIC offers expertise in project management.

If you have projects that needs financing, or you are in need of loans, project financing or trade finance, please submit your pitch deck and supporting documents for review: Email: apply@grandcityinvestment.com  | Website: www.grandcityinvestment.com