Chinese energy companies go global ... in the US
Chinese banks are playing a big role here, just as in Africa:
- In April, it was reported that Industrial & Commercial Bank of China (ICBC), China’s largest bank by market value, agreed to help finance plans for the USD 25 billion LNG export terminal in British Columbia, set to be among the 10 largest refineries in the world.
- In September 2012, Seattle-based Summit Power Group LLC announced that Sinopec Engineering will manage the construction of a critical portion of the Texas Clean Energy Project, a planned power-generating facility near Odessa, Texas. The facility will be funded by China Exim Bank, and is in line to receive USD 450 million in US federal funding.
See more at: http://www.thebeijingaxis.com/tca/editions/the-china-analyst-sept-2013/201-chinas-increased-presence-in-the-developed-world#sthash.lLByn5O8.dpuf
Source: http://www.chinaafricarealstory.com/2013/09/chinese-energy-companies-go-global-in-us.html
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