Asphalt MOU between CRBC and PDVSA

Funder	China Development Bank (CDB)
Recipient Organization	Venezuela
Country	Venezuela
Start Date	Aug 31, 2010
End Date	Oct 31, 2027
Duration	6,270 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`37826`

Grant Description

Asphalt MOU between CRBC and PDVSA On August 31, 2010, PDVSA asphalt subsidiary of Asfalto signed a memorandum of understanding with China Road and Bridge Corporation to pursue infrastructure projects. The partners built a highway connecting San Fernando in Apure state, to Tucupita.

This formed part of the transport infrastructure necessary for the new Orinoco oil projects comprised in PDVSA's Siembra Petrolera Plan, as well as road work in refineries and other key oil and gas installations. The status of these projects is unknown. This project is financing through the China Venezuela Joint Fund.

The Fund receives contributions from China Development Bank and FONDEN, and it is administered by BANDES. See Record ID#58677 for more information on the fund.

📚 Sources & References

PDVSA signs asphalt MOU with China Road and Bridge Corporation
Asphalt PDVSA and China Road and Bridge Corporation signed a memorandum of understanding 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.