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PowerChina provides $479 million supplier’s credit for Dream City Project
| Funder | Sinohydro Corporation Limited |
|---|---|
| Recipient Organization | La Société de Gestion et de Construction Guinée (SGCG-SA) |
| Country | Guinea |
| Start Date | Nov 20, 2020 |
| End Date | Nov 07, 2026 |
| Duration | 2,178 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 108996 |
Grant Description
PowerChina provides $479 million supplier’s credit for Dream City Project On November 20, 2020, Power Construction Corporation of China (PowerChina) -- a wholly state-owned enterprise administered by the State-owned Assets Supervision and Administration Commission -- and La Société de Gestion et de Construction Guinée (SGCG-SA) signed a $479 million supplier’s credit (pre-financing) agreement for the Dream City Project.
The purpose of the public-private partnership (PPP) project is to construct 4,256 housing units in the communes of Lambanyi and Sonfonia on the outskirts of the capital city of Conakry. Construction has commenced and was originally expected to last for 60 months. However, the precise project commencement date is unknown.
An amendment to the PPP agreement was signed by PowerChina, SGCG-SA, and the Government of Guinea in January 2025.
Staff Comments
- This project is also known as the Kobaya Tayaki Housing Project. The Chinese project title is 几内亚科巴亚塔亚奇及松弗尼亚住房项目.
- La Société de Gestion et de Construction Guinée (SGCG-SA) is a company under Guinean law with its headquarters in Conakry, in the Koloma district in the commune of Ratoma. Founded by Elhadj Bailo Sow in June 2015 and amended on May 31, 2018, the date on which it took the form of a Public Limited Company with a capital of 140,000,000.000 GNF, SGCG-SA is registered in the trade and personal property credit register under number NO FORMALITE / RCCM / GN-TCC-2023.M2.02178 of February 2, 2023
Sources & References
- Signature de la convention de financement du projet de kobaya tayaki d’un montant de 479 million de dollars entre Power China et la SGCG SA
- Dream City : la SGCG présente son projet de construction de 18 500 logements à Kobaya Tayaki
- Logements sociaux : Elhadj Bailo Sow, promoteur du projet Dream City rassure…
- Conakry : un projet de 18 500 logements sociaux présenté aux nouvelles autorités
- Guinée : Double consécration pour la SGCG-SA avec son projet immobilier Dream City
- Réalisation de la Dream City à Conakry : l’ultime étape avant la vitesse de croisière !
- Dream City (Conakry) : la Société de Gestion et de Construction entend offrir aux Guinéens leur ville de rêve
- 中国电建集团水电三局签约几内亚科巴亚塔亚奇及松弗尼亚住房项目
- 原创 走出去的 中国一带一路网 收录于话题#中企海外项目周报3个 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.
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La Société de Gestion et de Construction Guinée (SGCG-SA)
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