Chinese shipbuilding Jiangsu Rongsheng is likely to complete for a CNY10bn ($1.5bn) funding deal with China Everbright Bank.

The company has also secured additional credit worth CNY50bn ($7.5bn) from other Chinese banks in deals that will be finalised in the first half of 2011.

Jiangsu Rongsheng will receive contracts for about 90 vessels, the same as last year, reports.