PT. Zhongtsing New Energy of CNGR Signed a Cooperation Agreement with Indonesian Bank Central Asia (BCA)

  On April 28th 2022,PT.Zhongtsing New Energy,a subsidiary of CNGR,signed a loan cooperation agreement with Bank Central Asia(BCA)in Indonesia.Mr.Tao Wu,Senior Vice President of CNGR and President of CNGR International Headquarters;and Mr.Martin,Senior Vice President of Bank Central Asia and other personnel from related departments attended the signing ceremony.

  At the meeting,PT.Zhongtsing New Energy signed a loan agreement of USD 120 million with Bank Central Asia.Indonesia Industrial Base has not started the production cycle and yet PT.Zhongtsing New Energy managed to gain USD 120 million loan from the largest private bank in Indonesia.This is the first loan amounted over USD 100 million given by BCA to the new energy materials industry,which fully reflects BCA’s affirmation and support for CNGR.It also indicates that CNGR has extended its range for future financing channel in Indonesia.

  Mr.Tao Wu said that PT.Zhongtsing New Energy has always been committed to developing new energy and push forward the construction of base projects at the fastest speed since its establishment.In April last year,the company signed the laterite nickel project with an annual output of 60,000 MT of high nickel matte metal(Indonesia).The phase is planned to produce 20,000 MT of high nickel matte metal with a total investment of about USD 200 million.This cooperation contract with BCA will effectively reduce financing costs,accelerate the construction of industrial projects,increase profitability,and become the starting point of win-win collaboration between CNGR and BCA.Mr.Tao Wu hoped that CNGR and BCA could help each other in resource endowment and contribute to the high-quality development of new energy.
  Mr.Martin said that BCA actively responded to the call of the Indonesian government to provide financial support and services to PT.Zhongtsing New Energy of CNGR,which is developing rapidly in the new energy field.Establishing a close cooperative partnership between BCA and CNGR will achieve a breakthrough in bank-enterprise cooperation and contribute to the sustained and rapid development of the local economy.
  The signing ceremony was also attended by Mrs.Yan Xin,Vice President of CNGR International Headquarters;Mr.Chen Xin,Deputy General Manager of International Headquarters Investment and Financing Center;Mr.ONE,Vice President of BCA Legal Affairs;Mr.Arif,Vice President of BCA Banking Business Department and other leaders.