January 16, 2017 / 10:31 AM / in 10 months

Thai SCB, China Minsheng to lend $210 million to Canadian Solar

BANGKOK (Reuters) - Siam Commercial Bank Pcl (SCB.BK) and China Minsheng Bank (600016.SS) (1988.HK) will jointly lend $210 million to Canadian Solar Inc’s CISQ.O new manufacturing facility in Thailand, the Thai bank said in a statement on Monday.

The plant, located at Rojana Industrial Park in the eastern province of Chonburi, will facilitate exports to North America and in the region, while helping create local employment in Thailand, Shawn Qu, President & CEO of Canadian Solar, said in the statement.

SCB, Thailand’s third-largest lender by assets, has so far lent about 15 billion baht ($423.37 million) to Chinese investors and plans to double that amount in three years, the bank said.

Reporting by Manunphattr Dhanananphorn, Writing by Orathai Sriring; Editing by Vyas Mohan

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