Tianwei Sichuan Silicon Fails to Repay $23.6 Million LoanBloomberg News
Tianwei Sichuan Silicon Co., a Chinese maker of polysilicon, failed to repay 145 million yuan ($23.6 million) owed to the Chengdu branch of the Export-Import Bank of China due on May 31.
The company has to pay an additional 120 million yuan in the outstanding principal due Nov. 30, Tianwei’s stakeholder, Sichuan Minjiang Hydropower Co., said in a filing to the Shanghai stock exchange. Minjiang Hydropower has a 14 percent stake in Tianwei Silicon.
Tianwei Sichuan suspended production in 2011, Minjiang said in a Dec. 15, 2011 filing.
— With assistance by Feifei Shen