Chinese firm secures $42.5m for Enugu estate

A Chinese bank, the Industrial and Commercial Bank of China (ICBC), has reportedly approved a Loan of $42.5million under the guarantee of the Chinese Credit Insurance Corporation, (SINOSURE) for the construction of the HELIU Residences Project, located in   Enugu, on Enugu-Umuahia-Port-Harcourt Expressway.

Specifically, the loan is meant for the building of duplexes, power, roads, water and other facilities by the China Shenyang International Economic and Technical Cooperation Corporation Limited (CSYIC) in the new estate.

This was made known to newsmen by the Managing Partner of F.I.T. Consult, Chief Loretta Aniagolu, the developer of the project in partnership with the Enugu State Government, after signing the in Enugu.

She explained that the recent visit of the Chinese team led by the CSYIC President, Madam Tang Lezhen was for the final endorsement in respect of financing of the contract. Aniagolu said the funding of the project is through the ICBC with its 2016 turnover at about $2.3trillion.