Qinghai Salt Lake secures CNY 1.8bn loan for lithium project

Qinghai Salt Lake Industry [SZSE:000792] has announced it will receive a CNY 1.8 billion syndicated loan to advance its "40,000 tons/year Basic Lithium Salt Integration Project." The loan, involving a consortium of five financial institutions led by the Industrial and Commercial Bank of China (ICBC) Golmud Branch, is expected to enhance the company’s capital structure and reduce financing costs. This initiative aligns with national policies promoting large-scale equipment upgrades, entitling the project to a 1.5% interest subsidy from the central government. The loan has a term of two years.