HSBC to finance CRCC railway project in UAE

15 June 2020 - 12:00 am UTC

HSBC has agreed to finance a China Railway Construction Corporation-led consortium’s project to build a 145km railway line in the United Arab Emirates.

The lender has structured and financed a USD 558m package for the project, which is being built by a joint venture between CRCC and National Projects Construction (NPC), according to an HSBC statement. The UK-headquartered lender won a competitive pitch to provide guarantees, trade, supply chain and receivables, finance cash management, and foreign-exchange solutions.

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