China Eximbank pledges $1.545 billion loan for Phase 2 of Payra 1320MW Thermal Power Plant Project (Linked to Record ID#56005, #52748, #56547, #56402, and #56357)

📋 Staff Comments

1. The Chinese project title is 博杜阿卡利2×660MW超超临界燃煤电站项目.
2. The face (nominal) value of the loan was estimated by calculating 75% of the $2.06 billion total project cost.
3. This project should not be confused with any of the joint-development agreements for the Payra 3600 MW LNG-to-Power Project signed between NWPGCL and Siemens (Germany).
4. AidData has selected 2019 as the commitment year, but has checked the commitment_year_estimated field because the first mention of a potential China Eximbank loan comes in 'Bangladesh-China Power Company (Pvt) Limited Annual Report 2019.' 5. AidData has deduced that project implementation began in 2019 because 'Bangladesh-China Power Company (Pvt) Limited Annual Report 2019' refers to the project in the present tense (as opposed to the 2018 Annual Report). The exact date of the commencement of implementation is unclear, although it is likely it occurred after the signing of the EPC contract on May 16, 2019.
5. There are three different power plants being constructed in the Patuakhali District of Bangladesh. Each one of these projects is funded partially by joint ventures between Chinese and Bangladeshi state-owned enterprises and partially by China Eximbank. Two of the coal-fired plants will contain two 660 MW generators, with the third project containing two phases, both of which have two 660 MW generators. The joint venture partners clarified that these plants are near each other, but distinct plants within the region-wide electrification campaign. These projects include:(a) Patuakhali 1320MW (2 x 660MW) Ultra Supercritical Coal Based Thermal Power Plant Project (phase 2) (BCPCL): Bangladesh’s Northwest Power Generation Company Ltd. and China’s China National Machinery Import & Export Corporation established the Bangladesh-China Power Company Ltd. (BCPCL) joint venture in October 2014. The joint venture is captured in Project ID#56005. The China Eximbank funding for Phase 1 (units 1 and 2) is captured in Project ID#52748. The China Eximbank funding for Phase 2 is captured via Project ID#38245.(b) Patuakhali 1320MW (2 x 660MW) Coal-Fired Power Plant (Ashuganj/ APSCL): Bangladesh’s Ashuganj Power Station Company Ltd. (APSCL) and China’s China Energy Engineering Corporation Ltd. (CEEC) established a joint venture in July 2017 to build a power plant in Patuakhali. The joint venture is captured in Project ID#56547. CEEC planned to solicit a loan from the China Eximbank for the debt portion of the project.(c) Patuakhali 1320MW (2 x 660MW) MW Coal Fired Thermal Power Plant (RPCL): Bangladesh’s Rural Power Company Ltd. (RPCL) and China’s NORINCO established a joint venture in November 2017. The joint venture is captured via Project ID#56357. The China Eximbank funding is captured in Project ID#56402.

📚 Sources & References

• British media: China to seize the investment opportunities in Bangladesh
• Salient Features of Payra 1320MW Thermal Power Plant Project (2nd Phase)
• Bangladesh-China Power Company (Pvt) Limited Annual Report 2018
• Bangladesh-China Power Company (Pvt) Limited Annual Report 2019
• Salient Features of Payra 1320MW Thermal Power Plant Project (2nd Phase)-bcpcl
• Payra (BCPCL) Coal Power Plant (Phase-2)-BWGED
• Bangladesh-China Power Company (Pvt) Limited Annual Report 2020
• BANGLADESH-CHINA POWER COMPANY (PVT.) LIMITED ANNUAL REPORT 2022
• Annual Report 2022 Revised
• Office Order
• 中国驻孟郑清典大使夫妇、林维强商务参赞走访巴拉普库利亚煤矿及电站
• 中国驻孟加拉国大使郑清典考察巴拉普库利亚煤矿、电站项目
• COMMITMENT
• DISBURSEMENT AND REPAYMENT OF SUPPLIERS'/BYERS CREDIT (ACTIVE)
• COMMITMENT
• DISBURSEMENT AND REPAYMENT OF SUPPLIERS'/BYERS CREDIT (ACTIVE)
• Statement VIA Loans & Advances and Other Operating Expenditure
• Agreements/MoUs between Bangladesh countries of Far East
• COMMITMENT
• DISBURSEMENT AND REPAYMENT OF SUPPLIERS'/BYERS CREDIT (ACTIVE)
• COMMITMENT
• DISBURSEMENT AND REPAYMENT OF SUPPLIERS'/BYERS CREDIT (ACTIVE) Upto 30 June 2014
• Table-7.3 COMMITMENT
• DISBURSEMENT AND REPAYMENT OF OTHERS EXTERNAL LOANS (ACTIVE) Upto 30 June 2024
• List of Guarantee (Valid beyond 30 June, 2022)
• Future Plan
• North-West Power Generation Company Limited
• Payra 1320 MW Thermal Power Plant Project (2nd Phase) (Under JVC)
• Payra 1320 MW Thermal Power Plant Project (1st & 2nd Phase), 2023 Annual Report
• China National Energy Engineering & Construction Co.,Ltd.
• 三十年了！中机在孟加拉做了什么？
• COMMITMENT
• DISBURSEMENT AND REPAYMENT OF SUPPLIERS'/BYERS CREDIT (ACTIVE)
• CMC leaders met with the visiting agent of Bangladesh Barapukuria Coal Mine & Power Plant Projects
• Joint venture to start working for 1,320MW plant, 1,320MW coal-based power plant to be set up in Patuakhali
• Meet the coal power plants
• China bank finances Rural Power’s coal project
• Bangladesh to Build Another Coal-Fired Power Plant With Chinese Funding
• Payra Thermal Power Plant eyeing $1,547m loan
• Dhaka-Beijing.
• CMC continues to explore opportunities in Bangladesh
• China-Loan
• Natural Radioactivity of Feed Coal and Its by-products in Barapukuria 2×125 MW Coal Fired Thermal Power Plant
• Dinajpur
• Bangladesh
• 上海电站设备走出国门 首次出口孟加拉国
• Ashuganj Combined Cycle Power Plant - East
• Patuakhali power station (Ashuganj)
• Patuakhali power station (BCPCL)
• On Going China Project in Bangladesh
• Slowing the Growth of Coal Power Outside China: The Role of Chinese Finance
• Payra power station (BCPCL)
• A Resurgent China: South Asian Perspectives 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.