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Haitong signs MoU with AICEP and China Development Bank

Haitong and China Development Bank join forces to boost the Industrial and Logistic Zone of Sines

Haitong Bank signed, on October 9th, a Memorandum of Understanding with China Development Bank and AICEP to form a consortium to attract Chinese investors to the Industrial and Logistics Zone of Sines.

José Maria Ricciardi, CEO of Haitong Bank, is part of the delegation accompanying the Prime Minister on a official visit to China.

“AICEP Global Parques, China Development Bank and Haitong Bank intend to explore the possible development of a logistics platform in the Industrial and Logistics Zone of Sines, identifying potential Chinese investors interested in industrial and logistics business," reads the MoU

In the future, the banks intend to lead a consortium to finance the construction of the second terminal of the Port of Sines. This tripartite agreement signed in Beijing is justified by the fact that China Development Bank and Haitong have a strong customer base in Asia and particularly in China, which includes companies that are interested in expanding their business to Europe. Given the positioning in the markets where it operates, Haitong intends to maintain the origination of new Project Finance business opportunities in these markets and introduce them to China Development Bank as the pontencial long-term financer. The banks will work together to detect target customers who fit in the defined criteria. The exchange of information about past operations of both parties is crucial to improve the origination capacity in each market.