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GM gets $400 mln loan to revive Thai diesel-engine plant

Thu, 01/28/2010 - 10:25pm
Reuters

BANGKOK (Reuters) - General Motors Corp said on Friday it had secured a 13.5-billion-baht ($400 million) bank credit line from three Thai banks for reviving its earlier suspended diesel engine project and vehicle production expansion in Thailand.

Bangkok Bank, Siam Commercial Bank and Tisco Bank signed contracts pledging to provide GM (Thailand) Ltd the credit line, it said in a statement.

GM had halted construction of the project in late 2008 after the global financial crisis forced its Detroit head office to seek a U.S. state bailout.

($1 = 33.00 baht)

(Reporting by Manunphattr Dhanananphorn; Editing by Jason Szep)

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