Gem (Jiangsu) Cobalt Industry. [Photo/WeChat account: txfabu]
Through tailored training, Taixing has succeeded in getting local company Gem (Jiangsu) Cobalt Industry listed as a "Jiangsu Province Transformation Financing Entity". The company can now receive syndicated credit — with lenders from multiple banks — of 700 million yuan ($98.48 million).
Industrial and Commercial Bank of China issued the province's first syndicated loan for the transformation of the non-ferrous industry to the company, with an amount of 61.57 million yuan.
Gem (Jiangsu) Cobalt Industry strives to create a world-class green factory. [Photo/WeChat account: txfabu]
Located in the Taixing Economic Development Zone, the company is a leader in China's cobalt metal industry. With breakthroughs in core technologies such as cobalt nickel resource recycling and high-end battery material manufacturing, it occupies a leading position in the global green and low-carbon transformation of the new energy vehicle industry chain.
The successful issuance of loans makes Taixing the first in the province to implement transformational financial loans covering multiple industries such as chemical and non-ferrous metals.