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China Eximbank provides RMB 1.1 billion loan for Alpha Cement Factory Construction Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Myanmar Conch (Mandalay) Cement Co., Ltd. |
| Country | Myanmar |
| Start Date | Dec 12, 2019 |
| End Date | Aug 11, 2031 |
| Duration | 4,260 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 105832 |
Grant Description
China Eximbank provides RMB 1.1 billion loan for Alpha Cement Factory Construction Project On December 12, 2019, Myanmar Conch (Mandalay) Cement Co., Ltd. [缅甸海螺（曼德勒）水泥有限公司] — special purpose vehicle and a joint venture of Anhui Conch Cement Co., Ltd. [55% equity stake] and MYINT Investment Group Co., Ltd. [45% equity stake] — and the Anhui Branch of the Export-Import Bank of China (China Eximbank) signed an RMB 1.1 billion loan agreement for the Alpha Cement Factory Construction Project.
Both owners of Myanmar Conch (Mandalay) Cement provided guarantees for the full face value of the loan.
The purpose of the project was to construct a 5,000 tons-per-day (t/d) cement plant about 10 miles north of Mandalay, near the village of Aungthapye [Aung Thabyay] in Madaya Township. Construction began in December 2017.
The Alpha cement plant was put into production on March 29, 2020, and its first delivery of cement took place on June 17, 2020.
However, the project encountered local opposition from local farmers and residents over environmental and health concerns related to the coal-fired cement plant. Then, in July 2024, rebels from the People’s Defense Forces took control of the cement plant.
Staff Comments
1. The borrowing terms of the loan, beyond a 10-year maturity, remain unknown.
Sources & References
- 关于为缅甸海螺（曼德勒）水泥有限公司 提供担保的公告
- 突发！缅甸海螺（曼德勒）水泥厂被反政府武装攻占
- Resistance forces take control of two Chinese-backed joint ventures in Myanmar
- Alpha Cement plant attacked in Myanmar
- Alpha Cement plant to resume construction
- Cement Net Exclusive: Myanmar Rebels PDF Occupy Conch Cement Plant
- Five Myanmar Villagers Get Five-Year Sentences in China Cement Factory Protest
- Alpha Coal-Powered Cement Factory
- Mandalay
- Myanmar, အောင်သပြေ ဘိလပ်မြေစက်ရုံစီမံကိန်း ဒေသခံများ လုံးဝလက်မခံ 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
Myanmar Conch (Mandalay) Cement Co., Ltd.
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