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China Eximbank provides $46 million preferential buyer's credit for Thanh Hoa Steel Billet Factory Construction Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Viet Nam |
| Country | Viet Nam |
| Start Date | Jan 01, 2011 |
| End Date | Oct 24, 2031 |
| Duration | 7,601 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 35269 |
Grant Description
China Eximbank provides $46 million preferential buyer's credit for Thanh Hoa Steel Billet Factory Construction Project On October 22, 2008, China Eximbank and the Government of Vietnam signed a preferential buyer’s credit (PBC) framework agreement.
Then, on December 21, 2011, China Eximbank and the Vietnam Ministry of Finance signed a $46 million PBC agreement for the Thanh Hoa Steel Billet Factory Construction Project.
This was one of the several agreements signed during Chinese President Xi Jinping's three-day visit (December 20-22, 2011) to Vietnam.
The proceeds of the PBC were supposed to be on-lent to Thanh Hoa Construction and Smelting Corporation (Tổng công ty Xây dựng và luyện kim Thanh Hoá) which would then patrially finance a commercial contract with an unspecified Chinese contractor.
The purpose of the project was to construct a steel billet factory in Cao Ngoc commune, Ngoc Lac district, and Thanh Hóa Province with the capacity to produce 250,000 tons of steel per year. This project encountered significant implementation problems.
As of June 2013, the project was being rescoped and the Ministry of Finance of Vietnam was considering a different Chinese contractor.
Staff Comments
- This project is also known as the Cao Ngoc Steel Billet Factory Construction Project. The Chinese project title is 于越南清化钢铁厂项目. The Vietnamese project title is Thép Thanh Hóa or máy nhà máy sản xuất phôi thép tại tỉnh Thanh Hoá với công suất 250.000 tấn/năm or án Nhà máy thép Cao Ngọc or Nhà máy sản xuất phôi thép, công suất 250.000 tấn/năm tại xã Cao Ngọc, huyện Ngọc Lặc or Nhà máy phôi thép Thái Bình Dương.
- The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.
Sources & References
- Industry: China Bank to Lend $46M to Vietnam Steel Plant
- China Bank to Lend $46M to Vietnam Steel Plant
- Signing a preferential credit agreement for the buyer for the project of Thanh Hoa steel billet factory
- China Bank to Lend $46M to Vietnam Steel Plant, http://vn.mofcom.gov.cn/sys/print.shtml?/jmxw/201112/20111207894282, Điều chỉnh công suất Dự án Nhà máy thép Cao Ngọc
- Ký kết Hiệp định tín dụng ưu đãi bên mua cho dự án Nhà máy sản xuất phôi thép Thanh Hóa
- Phê duyệt báo cáo đánh giá tác động môi trường (ĐTM) dự án: Nhà máy sản xuất phôi thép, công suất 250.000 tấn/năm tại xã Cao Ngọc, huyện Ngọc Lặc
- Việt Nam mượn của Trung Quốc bao nhiêu?
- Nhà máy luyện gang lớn nhất Thanh Hóa khai lò
- Ký kết Hiệp định tín dụng ưu đãi bên mua cho dự án Nhà máy sản xuất phôi thép Thanh Hóa
- 中越双方签署五个经贸合作文件
- China Overseas Development Finance 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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Government of Viet Nam
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