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CDB contributes to $30 million syndicated buyer’s credit for Phase 2 of DET-AL Ganja Aluminum Plant Construction Project
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | DET-AL Aluminium LLC |
| Country | Azerbaijan |
| Start Date | Jan 01, 2013 |
| End Date | May 21, 2030 |
| Duration | 6,349 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 105648 |
Grant Description
In 2013, China Construction Bank and China Development Bank contribute to USD 30 million syndicated buyer’s credit for Phase 2 of DET-AL Ganja Aluminum Plant Construction Project, Azerbaijan In 2013, DET-AL Aluminium LLC (DET.AL Aluminium LLC) — a special purpose vehicle and wholly-owned subsidiary of Det.AL Holding — signed a $30 million syndicated buyer’s credit facility agreement with China Development Bank (CDB) and China Construction Bank (CCB) for Phase 2 of the DET-AL Ganja Aluminum Plant Construction Project.
However, it is known that the borrower was expected to use the loan proceeds to partially finance a commercial (EPC) contract with Sichuan Machinery & Equipment Import & Export Co. Ltd. (四川省机械进出口有限公司).
The purpose of Phase 2 is to increase the capacity of an aluminium smelter complex in Azerbaijan’s Ganja district from 60,000 tons per year to 160,000 tons per year. Sichuan Machinery & Equipment Import & Export Co. Ltd. (四川省机械进出口有限公司) was the EPC contractor responsible for implementation.
Phase 2 trial operations commenced in September 2013 and Phase 2 was originally scheduled to reach completion by mid-2015.
Staff Comments
- The Chinese project title is 电解铝二期项目 or 阿塞拜疆电解铝项目 or 甘加电解铝项目.
- Det.AL Holding is a company that provides systems and advice on aluminium cast house technology to the aluminium industry worldwide.
- The size of CDB’s contribution to the $30 million syndicated loan is unknown. For the time being, AidData assumes equal contributions ($15 million) across the two known members of the syndicate. This issue warrants further investigation.
- Phase 1 commenced on March 3, 2008, and concluded in October 2011. Sichuan Machinery & Equipment Import & Export Co. Ltd. was also involved in the implementation of Phase 1.
Sources & References
- Chinese lending specifics and projects in the Caucasus region: A look into project-level data
- China Aluminum International Engineering Corporation Limited Global Offering
- 人民日报海外版》:保驾护航—中国建设银行服务企业“走出去”的故事
- Azerbaijan's Detal Ganja aluminium smelter produces first metal
- 保驾护航
- Ilham Aliyev attended the opening ceremonies of “Detal Alüminium” aluminum fabrication plants under the “DET-AL Alüminium” LLC
- In-Depth Review of the Energy Efficiency Policy of the Republic of Azerbaijan
- Det.Al Holding Offers Cheap Azerbaijan Aluminum
- Second Biennial Update Report of the Republic of Azerbaijan to UN Framework Convention on Climate Change
- Azerbaijan’s biggest enterprise for aluminium production to be improved
- Ilham Aliyev participated at the opening of Ganja Aluminium Plant of DET AL Aluminium LLC
- 阿塞拜疆电解铝项目
- 阿塞拜疆甘加电解铝项目履约完成
- 大事记
- 中铝六冶承建阿塞拜疆首个铝加工项目一次性试车成功
- Azerbaijan sees rise in aluminium production from 2015, Частная азербайджанская компания Det.AL Aluminium начала строительство алюминиевого завода в Азербайджане 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
DET-AL Aluminium LLC
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