Jan 31 LDK Solar Co Ltd said China
Development Bank Corp approved a 440 million yuan ($69.8
million) loan, as the country's state-run banks continue to
extend credit to its solar companies.
The loan will be used to finance LDK's investment in
hydrochlorination technology for the Mahong Polysilicon Plant,
in which U.S.-listed LDK Solar has invested more than 12 billion
yuan to date.
Beijing has already provided billions of dollars in credit
lines and other support to its solar industry through state-run
banks, prompting the U.S. government to impose import duties.
LDK Solar plans to draw down on the loan as market
conditions improve and the necessary equipment is ready for its
use, the company said in a statement.