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ICBC participates in RMB 2.15 billion syndicated loan tranche for East Kalimantan Cement Production Facility Project
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | PT Kobexindo Cement |
| Country | Indonesia |
| Start Date | Jan 01, 2022 |
| End Date | Sep 24, 2033 |
| Duration | 4,284 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 105338 |
Grant Description
ICBC, China Eximbank, and BOC contributions to RMB 2.15 billion syndicated loan tranche for East Kalimantan Cement Production Facility Project In 2022, PT Kobexindo Cement — a special purpose vehicle and joint venture of Hongshi Group and PT.Kobexindo — signed an RMB 3.6 billion syndicated facility (loan) agreement with 6 Chinese banks (Bank of China, Industrial and Commercial Bank of China, China Eximbank, China Minsheng Bank, Industrial Bank Co., Ltd., and Ping An Bank) and 3 Indonesian banks.
China Eximbank is the lead arranger of the syndicate.
The loan consists of two tranches: an RMB 2.15 billion tranche with 6 Chinese banks (Bank of China, Industrial and Commercial Bank of China, China Eximbank, China Minsheng Bank, Industrial Bank Co., Ltd., and Ping An Bank and an IDR tranche with three unknown Indonesian bank participants. The purpose of the project is to construct a cement facility in East Kalimantan.
Construction of a wharf for the cement facility commenced on April 23, 2022. Then, on October 18, 2022, the first loan disbursement took place. The first phase of the project was originally expected to reach completion by May 2023.
Record ID#96323 captures China Eximbank's estimated contribution to the syndicated loan tranche, Record ID#105338 captures ICBC's estimated contribution, and Record ID#105339 captures BOC's estimated contribution.
Staff Comments
- The Chinese project title is 红狮集团印尼东加曼丹项目 or 红狮印尼东加银团项目.
- China Minsheng Bank, Industrial Bank Co., Ltd., and Ping An Bank are private banks.
- The individual contributions of Bank of China, China Eximbank, and the Industrial and Commercial Bank of China to the loan syndicate are unknown. For the time being, AidData assumes equal contributions to the RMB 2.15 billion (RMB 358,333,333) loan tranche across the 6 known Chinese bank participants in the syndicate. Record ID#96323 captures China Eximbank's contribution to the syndicated loan tranche, Record ID#105338 captures ICBC's contribution, and Record ID#105339 captures BOC's contribution.
Sources & References
- 中国进出口银行浙江省分行荣获浙江银行业2020年度银团贷款业务最佳创新奖
- 中国进出口银行浙江省分行荣获浙江银行业2020年度银团贷款业务最佳创新奖
- 中国进出口银行浙江省分行获浙江银行业2020年度银团贷款业务最佳创新奖
- 等值21.5亿元！红狮集团“一带一路”项目取得首笔贷款, 21.5亿！红狮印尼东加水泥项目签约进出口银行
- 中建筑港印尼东加红狮水泥专用码头工程打下首根PHC桩
- 金华市银行业协会开展重点企业银团业务交流及绿色金融企业参观活动
- 金融助力稳大盘 进出口银行浙江省分行助企出海有实招
- The China Factor in Indonesia’s New Capital City Plan
- Where China fits in Jokowi’s plan for Indonesia’s US$33 billion new capital city
- 红狮集团“一带一路”项目取得首笔贷款
- 中国进出口银行浙江省分行荣获浙江银行业2020年度银团贷款业务最佳创新奖
- Pabrik Semen Baru di Kalimantan Timur
- Asosiasi Tagih Janji Kobexindo Cement
- Pt.kobexindo cement 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.
All Grantees
PT Kobexindo Cement
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