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[China-Venezuela Joint Fund] Metallurgical Corporation of China awarded contract to expand the Puerto de Palua [Linked to Record ID#37838]
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Banco de Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund |
| Country | Venezuela |
| Start Date | Sep 01, 2011 |
| End Date | Feb 11, 2033 |
| Duration | 7,834 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 37940 |
Grant Description
[China-Venezuela Joint Fund] Metallurgical Corporation of China awarded contract to expand the Puerto de Palua In September of 2011, Venezuela signed a contract with the Metallurgical Corporation of China (MCC) to expand the Venezuelan port of Palua, doubling the capacity to move iron ore in the Orinoco River.
The contract is for 112 million USD and was expected to be completed by the end of 2012. Funding was to come from the China-Venezuela Joint Fund.
However, a March 2013 publication from the International Centre for Trade and Sustainable Development suggested that the project had not begun.
The China-Venezuela Joint 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
- China's Cautious Economic and Strategic Gamble in Venezuela
- China in Latin America: Investments in Port Infrastructure
- A China na América Latina: investimento em infraestrutura portuária
- 罗书会见委内瑞拉奥利诺科铁矿有限公司董事长
- Firman contrato por $112 millones para ampliación del Muelle de Palúa
- Gaceta Oficial de la Republica Bolivariana de Venezuela
- China-Venezuela Economic Relations: Hedging Venezuelan Bets with Chinese Characteristics 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
Banco de Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund
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