Wison Group Enters Into a Comprehensive Cooperation Agreement with ICBC, Tianjin Branch

The 2019 Matchmaking Meeting (Tianjin Economic-Technological Development Area) for Banks, Enterprises and Government was held on June 18, themed on “the promotion of the combination of industry and finance and the development of real economy”. In this meeting, Wison Group officially entered into a comprehensive cooperation agreement with ICBC, Tianjin Branch. Based on the principle of long-term cooperation, mutual benefit and common development, the two sides have agreed to facilitate full cooperation in financial fields including project finance, syndicated loan, international and domestic trade finance and investment bank equity, striving for a deeper integration between industry and finance and the sound development in real economy by making good use of the advantages of resources held by both sides.

Wison Group and ICBC Tianjin Branch are now promoting the cooperation in Wison Tianjin Light Hydrocarbons Comprehensive Utilization Project and have reached a preliminary intent on financing. With an investment of 19.3 billion RMB, main construction objects of this project include a 1 million ton (per year) ethylene cracking unit and supporting downstream processing units for olefin derivatives. Propane, the clean energy, is used as the raw material. By leveraging the proprietary and internationally advanced technology, the project focuses on the research and development of high-end materials. By employing an intelligent design concept, the plant is able to achieve green, high-end and differentiated productions, whose products will replace the imports. This project will supply 9 types of high quality monomers including ethylene, propylene and butadiene to Nangang Industrial Zone. With an aim to be leader of the industry chain and model enterprise, Wison will contribute to the construction of the world-class petrochemical industry base and assist in attracting more enterprises to reside in this zone, aiming to realize the transformation and upgrading of this area as well as a high quality sustainable development.

Wison Group is a diversified group focusing on energy chemical services. Its remit of business covers the storage and utilization of primary energy including coal, oil and natural gas, onshore energy engineering services, marine engineering equipment fabrication and downstream new chemical materials development. Guided by the philosophy of “Better Technology, Better Life”, Wison is committed to building itself as a world-class enterprise with industrialization of science and technology as its core task, to facilitating the interactive development of upstream and downstream as well as to creating maximum value for customers.

During this meeting, Tianjin Economic Development Zone Administrative Committee held the signing ceremonies with 50 high quality enterprises, involving a capital of more than 60 billion RMB. The great development prospect has impressed 10 banks including the 5 major state-owned banks who are willing to offer credit facilities to the Tianjin Economic Development Zone and strengthen the cooperation. These banks are committed to providing financing support for the development of this zone and the construction of the free trade zone as well as professional and efficient financing services for the real economy.