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[China-Venezuela Joint Fund] China Development Bank provide $1.315 billion loan for Tocoma-Uribante Transmission Line Construction Project (Linked to Record ID#58677)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Banco de Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund |
| Country | Venezuela |
| Start Date | Jan 01, 2012 |
| End Date | Feb 18, 2030 |
| Duration | 6,623 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 38146 |
Grant Description
[China-Venezuela Joint Fund] China Development Bank provide $1.315 billion loan for Tocoma-Uribante Transmission Line Construction Project In June 2012, China and Venezuela signed a contract to build a transmission line to connect the Tocoma and Uribante power plants.
It includes the construction of eight substations and updates the electrical distribution system in the central-western region, covering Cojedes, Carabobo, Portuguesa, Yaracuy, Barinas, Mérida and Zulia states Táchira. It was also announced that month that a Chinese consortium was awarded the contract.
The consortium is comprised of China CAMC Engineering Co, China Gezhouba Group, and China Electric Power Equipment and Technology Co. The contract is worth $1.315 billion. A January 2015 announcement on the CORPOLEC website appears as if the project is still under construction. This project was funded by the China-Venezuela Joint Fund (as captured via Record ID#58677).
Sources & References
- Venezuela y China construirán línea de transmisión eléctrica
- Se firmó contrato para la construcción de línea de transmisión Tocoma-Uribante
- CORPOELEC y contratista CHINA CAMC realizan trabajos preliminares del Plan Robusto
- Corpoelec
- China to build US$1.3bn Tocoma-Uribante transmission line
- Modifican convenio que instalaría la red Tocoma-Uribante
- 国家电网与委内瑞拉国家电力公司签署输变电工程总承包合同, https://web.archive.org/web/20140804152325/http://www.corpoelec.gob.ve/sites/default/files/conectados_05.pdf
- Chinese investment in Venezuela’s grid fails to prevent blackouts 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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