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ICBC provides $140 million loan for Karauzak Cement Factory Construction Project
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Karauzak Cement LLC |
| Country | Uzbekistan |
| Start Date | Dec 08, 2021 |
| End Date | May 27, 2030 |
| Duration | 3,092 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 105662 |
Grant Description
ICBC provides $140 million loan for Karauzak Cement Factory Construction Project On December 8, 2021, the Industrial and Commercial Bank of China (ICBC) and Karauzak Cement Co., Ltd. (卡尔希海螺水泥有限公司 or 卡尔希海螺水泥外国企业有限公司 or 卡尔希海螺水泥外) — a special purpose vehicle owned by Anhui Conch Cement Company Limited and Karauzak Cement — signed a $140 million (fixed asset) loan agreement.
The borrower was expected to use the proceeds of the loan to partially finance a $273 million commercial contract between Karauzak Cement Co., Ltd. and Tianjin Cement Industry Design and Research Institute (Sinoma TCDRI), which was signed on September 29, 2020.
The purpose of the project was to construct a 5,000 tons-per-day (t/d) cement plant in Nukus District in Karakalpakstan. China MCC17 Group Co., Ltd. was the contractor responsible for project implementation. Project implementation commenced in February 2019 and the cement plant was put into production on May 18, 2022.
Staff Comments
- The Chinese project title is 乌兹别克斯坦日产5000吨熟料水泥生产线项目 or 的塔什干海螺水泥项目 or 卡尔希海螺水泥项目.
- Karauzak Cement is a Korean private company
Sources & References
- Overseas Market Development Information (Issue 1)
- Shirley Wang Biographical Profile
- Chinese business briefing: Force majeure
- 天津水泥院新签乌兹别克斯坦KARAUZAK水泥厂总承包项目
- Karauzak Cement orders cement plant from Sinoma TCDRI
- 中企投资建设塔什干水泥项目实现投产
- 王湘红
- Sustainable Infrastructure for Low‑Carbon Development in Central Asia and the Caucasus HOTSPOT ANALYSIS AND NEEDS ASSESSMENT
- Uzbekistan DCP 5000TPD Clinker Cement Production Line
- 中材国际签署特别重大合同新建一条5000t/d熟料生产线
- 十七冶承建的乌兹别克斯坦卡尔希海螺水泥项目
- 海螺水泥关于为控股公司及参股公司提供担保的公告 （下载公告）
- 海螺水泥2021年度报告
- Karauzak Official Website 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
Karauzak Cement LLC
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