Industrial and Commercial Bank of China has promised to grant 60 billion yuan (US$7.5 billion) in credit and loans for nuclear electricity power projects in Guangdong in the coming five years, the bank said Thursday.

 

ICBC said in a statement it has signed a cooperative agreement with Guangdong Nuclear Power Group, which boasts a combined 10 million kilowatts in installed capacities of operational and planned nuclear power projects in the southern Chinese province.

 

In the meantime, the Guangdong group will treat ICBC, China's biggest commercial bank by assets, as the "most important partner" for cooperation in financial activities, the agreement said.

 

(Xinhua News Agency March 31, 2006)