An Oxy unit in China signed a big loan agreement.
The subsidiary, which Occidental Petroleum owns with the Bank of China Trust & Consultancy Co., signed a $475-million syndicated loan agreement to finance a large coal mine being developed in China’s Shanxi province, about 230 miles west of Peking. Completion of the coal mine, named An Tai Bao, is scheduled for the end of 1987. When completed, the mine will produce up to 15 million tons per year of raw coal.
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