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China Eximbank contributes to RMB 7.48 billion syndicated loan for IWIP Ferronickel Production Line Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Yashi Indonesia Investment (硕石印尼投资有限公司) |
| Country | Indonesia |
| Start Date | Nov 30, 2022 |
| End Date | Sep 13, 2031 |
| Duration | 3,209 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 109862 |
Grant Description
Official sector PRC bank contributions to RMB 7.48 billion syndicated loan for IWIP Ferronickel Production Line Project On November 30, 2022, PT Yashi Indonesia Investment (硕石印尼投资有限公司) — a joint venture of Zhenshi Holding Group, Co.,Ltd, Shanghai Decent Investment (Group) Co., Ltd and Zhejiang Huajun Investment Co., Ltd. — signed an RMB 7.48 billion ($1.6 billion) Sinosure-backed syndicated loan with 12 Chinese lenders for the IWIP Ferronickel Production Line Project.
The members of the lender syndicate included China Development Bank, China Eximbank, Bank of China, Bank of Communications, the Industrial and Commercial Bank of China, China Everbright Bank, China CITIC Bank, Bank of Beijing, China Minsheng Bank (CMBC), China Construction Bank, China Zheshang Bank, and Ping An Bank.
The borrowing terms are unknown.
The purpose of the project is to construct a nickel metal (ferronickel) production line in Indonesia in the Indonesia Weda Bay Industrial Park (IWIP) with the capacity to produce 126,000 tons of nickel metal each year. On November 7, 2022, the project officially commenced. Then, on June 3, 2024, the first batch of nickel iron was shipped from the facility to China.
Staff Comments
- The Chinese project title is 印尼年产12.6万吨镍金属生产线项目 or 印尼硕石项目.
- Some sources suggest that the facility has the capacity to produce 300,000 tons of ferronickel per year. 3. The individual financial contributions of the banks that participated in the RMB 7.48 billion syndicated loan are unknown. For the time being, AidData has assumed equal contributions (RMB 623,333,333) across all members of the syndicate. This issue warrants further investigation.
Sources & References
- Road to Ruin: Challenging the Sustainability of Nickel-based Production for Electric Vehicle Batteries
- Sinosure insures Zhenshi Holdings' investment in a 126,000-ton annual nickel metal production line project in Indonesia
- 中国信保浙江分公司承保振石控股投资印尼年产12.6万吨镍金属生产线项目
- 振石控股印尼年产12.6万吨镍金属项目由中国企业承保
- 第三届“一带一路”国际合作高峰论坛务实合作项目清单（附件二全文）
- 硕石印尼投资有限公司
- 振石印尼硕石项目银团组建启动会召开
- Start-up meeting of Indonesia Nickel Iron Project financing for Yashi Phase II of Zhenshi Group
- Indonesia's Shuoshi 1.05 million tonnes per year ferronickel project syndicated financing approved
- CUAN-Final-Report
- Tracking Financing Footprint Environmental and Social Impacts of the Nickel Industry in Indonesia
- Providing cross-border financial services for enterprises to 'go global'
- 印尼硕石年产105万吨镍铁项目银团融资审批完成
- PT Yashi Indonesia Investment
- 中国银行浙江省分行：护航全球化征程 做浙商“走出去”首选银行
- Zeng Li
- The Belt And The Road
- Which Energy Storage Related Projects Reached Cooperation?
- List of Practical Cooperation Deliverables of the Third Belt and Road Forum for International Cooperation
- From Rich Soil to Flooded Plains: The Toll of Indonesia-China’s Nickel Ambition 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
Yashi Indonesia Investment (硕石印尼投资有限公司)
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