Active Mixed AidData Chinese Aid

China Construction Bank participates in syndicated seller’s credit for Dabin Cement Plant Construction Project (Linked to Record ID#102627)

$52.5M USD

Funder	China Construction Bank Corporation (CCB)
Recipient Organization	DCCP Dabin Company
Country	Iraq
Start Date	Feb 13, 2023
End Date	Dec 20, 2030
Duration	2,867 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`102626`

Grant Description

China Construction Bank and China CITIC Bank participate in syndicated seller’s credit for Dabin Cement Plant Construction Project in Iraq 2023 On February 13, 2023, DCCP Dabin Company — a special purpose vehicle and joint venture of Dabin Group and PowerChina — signed a syndicated seller’s credit agreement with the Beijing Branch of China Construction Bank, the Beijing Branch of China Zheshang Bank Co., Ltd., the Beijing Branch of China CITIC Bank Co., Ltd., and the Shanghai Branch of National Bank of Kuwait S.A.K.P. for the Dabin Cement Plant Construction Project.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

However, it is known that the borrower purchased a credit insurance policy from Sinosure, which went into effect on October 13, 2022.

The purpose of the $280 million project is to construct a new 6,000-ton-per-day (Dabin) cement clinker production line and a 52-megawatt heavy fuel oil power plant in the city of Erbil. 1,000 job opportunities are expected to be created during the project’s construction phase. The project site is located on a 43-hectare area at the foot of Safin Mountain.

PowerChina is the EPC contractor responsible for project implementation. On March 8, 2023, the project owner officially issued a construction start order. Construction started on April 4, 2023 and was expected to reach completion within 24 months (April 4, 2025). Then, on June 22, 2023, a formal groundbreaking ceremony took place.

Kurdistan Region Prime Minister Masrour Barzani attended and delivered remarks at the ceremony.

📋 Staff Comments

This project is also known as the DCCP Cement and Power Plant Project and the Iraq DCCP 6000TPD Cement Clinker Production Line and Power Plant Project. The Chinese project title is DCCP日产6000吨水泥熟料生产线及电厂项目 or 伊拉克DCCP日产6000吨水泥熟料生产线及电厂项目.
The insured amount under the Sinosure credit insurance policy was $295 million.
The precise face value of the seller’s credit is unknown. For the time being, AidData assumes that the face value of the seller’s credit was equivalent to 75% of the total project cost ($210 million). This issue warrants further investigation.
The individual financial contributions of the members of the syndicate are unknown. For the time being, AidData assumes equal contributions ($52,500,000) across the four known members of the syndicate. This issue warrants further investigation.

📚 Sources & References

KURDISTAN REGION TO BUILD STRATEGIC CEMENT AND POWER PLANT
Kurdistan Prime Minister Lays Foundation Stone of Erbil Cement Plant
Advocates for Local Employment
中国信保承保的伊拉克DCCP日产6000吨水泥熟料生产线及电厂项目举行奠基仪式
PM Barzani lays foundation stone of a ‘strategic’ cement, power plant
The main project of the Iraqi cement production line project started
New project breaks ground in Iraq
Encountering the DCCP Cement and Power Plant in Iraq
相遇——伊拉克DCCP日产6000吨水泥熟料生产线及电厂项目
中国电建伊拉克DCCP日产6000吨水泥熟料生产线及电厂项目举行奠基仪式
伊拉克DCCP水泥熟料生产线及电厂项目前期策划评审顺利完成
伊拉克DCCP水泥熟料生产线及电厂项目主体工程正式开工
中国电建伊拉克DCCP日产6000吨水泥熟料生产线及电厂项目举行奠基仪式
中国电建伊拉克水泥厂项目融资协议正式签署
期待早日开建！中国电建伊拉克水泥厂项目融资协议正式签署
中国电建伊拉克水泥厂项目融资协议正式签署 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.