China Essence Group has been granted a loan facility for expansion
China Essence Group has been granted a loan facility for expansion
![China Essence Group China Essence Group](https://media.potatopro.com/china-essence-group-1200.jpg?width=1200&height=743&crop=smart&mode=crop)
China Essences Group Ltd., a chinese producer of potato starch and related products, announced it entered into an agreement for a USD 60 million short term loan facility by the DBS bank.
According to the statement, the purpose of the loan facility is to:
acquire two pieces of land in PRC, (ii) purchase equipment and finance the construction of new production facilities on these two pieces of land;and (iii) fund working capital.
No details were provided on the location of the land or the nature of the equipment and production facilities.
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