Published On: Thu, Dec 22nd, 2016

Guangdong Zhenrong keeps its word

oil refineryWILLEMSTAD - Chinese state-owned Guangdong Zhenrong Energy (GZE) has kept its word and in connection with the Upgrade Master Plan for the Isla refinery and the oil terminal at Bullenbaai, the company provided the required financial guarantee.

This is according to the spokesman of the Multidisciplinary Project (MDPT). The MDPT states that on November 28, 2016 - the deadline - they received a guarantee from the China Development Bank.

The MDPT cannot elaborate on the guarantee given that the negotiations are currently taking place to reach commercial agreements in which both parties are bound by confidentiality provisions.

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