China's largest bank in deal to finance Kitimat refinery

"B.C. media mogul David Black said he has signed a memorandum of understanding with the Industrial and Commercial Bank of China (ICBC) for the proposed refinery that is estimated to cost $25 billion.

Black, who was in Beijing on Thursday, did not say how much money ICBC will provide, only that the bank has expressed interest in loaning money to the enterprise, functioning as a co-ordinator to get other banks involved, and providing engineering and construction help to build the refinery."

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