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Local Gov't Struggles with Solar Manufacturer's Debt
07.24.2012 20:34
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Local Gov't Struggles with Solar Manufacturer's Debt
Jiangxi LDK's creditors try to work out repayment deal with officials in Xinyu
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(Beijing) – Led by China's policy bank, creditors of Jiangxi LDK Solar are in talks with the company's host city government over loan payback.
The local government on July 12 set a provision of 2 billion yuan from the city budget to cover part of the company's financial gap, and officials are scrambling to sell stakes of the troubled company to local state-owned enterprises.
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