Kasikorn Bank loans Bt9.38 bn for construction of tyre plant
Kasikorn Bank has extended Bt9.38 billion in loans for the construction of a Linglong Tire manufacturing plant in Thailand, the bank's president Patchara Samalapa said on Wednesday.
Wang Feng, chairman and CEO of Shandong Linglong Tire Co Ltd, a leading Chinese tyre manufacturer, recently signed a financial facility agreement worth US$285 million (Bt9.38 billion), which will be used by LLIT (Thailand) Co Ltd, a subsidiary of Shandong Linglong Tire Co, for the construction of a plant in Thailand.
Tyres produced by LLIT (Thailand) will be sold in Thailand and exported globally, Feng said.
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