Genertec CMC’s Project of Four-Vessel Export to Bangladesh Reaches Financial Close and Officially Enters into Force

On February 8, the Government Framework Agreement and Loan Agreement for GENERTEC CMC’s project of four-vessel export to Bangladesh were officially signed, marking the financial close and official entry into force of the project. The Chinese Ambassador to Bangladesh signed the agreements on behalf of the Chinese government, and the head of GENERTEC CMC attended the signing ceremony.

The project of four-vessel export to Bangladesh stands as a large-scale key project secured by the company overseas, with a total contract value of approximately RMB 1.67 billion. It is financed by a Chinese government concessional loan. GENERTEC CMC will act as the general contractor responsible for building two 114,000 DWT crude oil tankers and two 81,500 DWT bulk carriers and delivering them to the owner.

Once completed, the project is expected to effectively help upgrade Bangladesh’s shipping industry, bringing sustained economic growth and stable foreign exchange revenues.