ID :
53047
Tue, 03/31/2009 - 09:05
Auther :
Shortlink :
https://www.oananews.org//node/53047
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KDB agrees with Canadian firm on resource projects
SEOUL, March 31 (Yonhap) -- The state-run Korea Development Bank (KDB) said Tuesday it has signed a preliminary deal with a Canadian investment firm to promote resource development by South Korean companies in the North American country.
Under the deal with RCI Capital Group Inc., KDB will provide local businesses
easier access to resource projects in the natural gas-rich country as well as
corporate financing from both countries, the bank said in a statement.
"Utilization of Canadian financing is expected to reduce foreign currency
liquidity concerns and provide a new business model for resource development,"
the bank said.
As of 2007, Canada was the world's third-largest reservoir of natural gas with
the second-largest reserves of oil sands, according to KDB.
Under the deal with RCI Capital Group Inc., KDB will provide local businesses
easier access to resource projects in the natural gas-rich country as well as
corporate financing from both countries, the bank said in a statement.
"Utilization of Canadian financing is expected to reduce foreign currency
liquidity concerns and provide a new business model for resource development,"
the bank said.
As of 2007, Canada was the world's third-largest reservoir of natural gas with
the second-largest reserves of oil sands, according to KDB.
