Rongsheng is to receive 10bn funds

Shanghai: Jiangsu Rongsheng Heavy Industries Group Co, a privately-owned Chinese shipbuilder is likely to achieve RMB10bn (US$1.5bn) funding deal with China Everbright Bank. Rongsheng has also secured additional credit worth RMB50bn from other Chinese banks that will be finalised in the first half of 2011.
Source: Seatrade Asia