News

News

Your positionHome > News > NEWS

Premier Li Keqiang Witnesses Signing of Key Agreements among China Merchants Group, The Export-Import Bank of China and Vale
Date:2015-05-21 Soure:CMES Click:

 

Local time 19 May, 2015 in Brasilia, Brazil, an Additional Strategic Cooperation Framework Agreement was signed between China Merchants Group represented by Mr. Li Xiaopeng and Vale S.A. represented by Mr. Murilo Ferreira. In addition, a three-party Memorandum of Understanding was signed among China Merchants Group, Vale S.A. and The Export-Import Bank of China for potential VLOC (Very Large Ore Carrier) project financing and loans. The signing of both documents was witnessed by Mr. Li Keqiang, Chinese Premier and Ms. Dilma Rousseff, President of Brazil.

 

Founded on 1 June, 1942, Vale S.A. produces 80% of iron ore of Brazil. Apart from being the largest mining company in America Continental, it is also the world’s No. 1 producer and exporter of iron ore. Vale S.A. is complemented as the “Gem on the Crown” and the “Engine of Amazon”.

 

The first Strategic Cooperation Framework Agreement was signed between China Merchants Group and Vale S.A. on 26 September, 2014. The agreement signed this year is an expansion about shipping and integrate logistic cooperation based on the first agreement.

 

According to the agreements just signed, China Merchant Group will purchase 4 existing VLOCs from Vale. The Export-Import Bank of China will provide up to 1.2 billion loans for the project.

 

The signing of these agreements is also an actual execution of the “Strategic 5-Billion-Financing Cooperation Framework Agreement between The Export-Import Bank of China and Vale S.A.” signed in July, 2014, which was witnessed by Chinese President Mr. Xi Jinping and Brazil President Ms. Dilma Rousseff. Not only these agreements will promote Brazil export of resources to China and deepen economic and trade cooperation between both countries, but also will accelerate the transformation and upgrading of Chinese Shipping Industry.

 

 

 

 

 

 

 

© 2014 China Merchants Energy Shipping Co., Ltd. | Design by szweb.cnContact us | Site Map