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China Eximbank provides $373.8 million for Navoiazot PVC Chemical Complex Construction Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Navoiyazot |
| Country | Uzbekistan |
| Start Date | Jan 01, 2013 |
| End Date | Jan 21, 2028 |
| Duration | 5,498 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 40242 |
Grant Description
China Eximbank provides $373.8 million for Navoiazot PVC Chemical Complex Construction Project In 2013, China Eximbank issued a $373.8 million loan to Joint-Stock Company (JSC) Uzkimyosanoat -- an Uzbek state-owned chemical company -- for the construction of polyvinyl chloride (PVC) plant at the Navoiazot chemical complex in Uzbekistan.
JSC Uzkimyosanoat then on-lent the proceeds of the loan to JSC Navoiyazot, which is a special purpose vehicle and wholly-owned subsidiary of JSC Uzkimyosanoat.
The estimated cost of this project was initially $470.8 million, but then it increased to $501.1 million in 2015. $65.9 million of the financing for this project reportedly came from a loan from Fund for Reconstruction and Development of Uzbekistan, and $61.4 million came from Uzkhimprom's own resources.
The purpose of the project was to construct the Navoiazot chemical plant (ОАО Навоиазот) -- a polyvinyl chloride (PVC), caustic soda and methanol production complex-- in Navoi.
Upon completion, it was expected that the plant would have the capacity to produce 100,000 tons of PVC, 300,000 tons of methanol, and 75,000 tons of caustic soda each year.
The contractors responsible for project implementation were China CAMC Engineering Co., Ltd. and HQC (Shanghai) Company. The project's originally expected implementation start date was October 1, 2013. Its originally expected completion date was May 1, 2016. However, construction did not ultimately begin until December 2015.
The project was completed on September 26, 2019.
Staff Comments
1. Joint-Stock Company (JSC) “Navoiyazot” is a subsidiary of JSC Uzkimyosanoat, which is a Uzbek state-owned enterprise.
Sources & References
- China Exim Bank to allocate $300 million on construction of PVC complex in Uzbekistan
- China has Provided a Loan to Uzbekistan for the Construction of a New Plant
- PROJECT FINANCING
- 乌兹别克总统视察！“一带一路”PVC生产综合体建设项目预计下半年中交投产
- Chinese Eximbank to issue US$300m to construction of PVC complex in Uzbekistan
- Navoiazot gets $300m Eximbank loan for new PVC plant
- 中企承建乌兹别克斯坦大型化工项目进展顺利
- 中工国际签署乌兹别克PVC生产综合体建设项目商务合同
- 重大项目 Major Projects
- 对外投资合作国别（地区）指南 乌兹别克斯坦（2019年版）
- AO Navoiyazot, О мерах по ускоренному развитию химической промышленности Республики Узбекистан
- Uzbekistan puts into operation chemical plant built by Chinese companies, Китайский банк предоставил средство на строительство и закупку оборудования для нового производства на базе 'Навоиазота'. 'Узхимпром' уже на протяжении пяти лет пытается реализовать данный проект, Инвестиционные проекты, Навоиазот ввел в эксплуатацию производство ПВХ, каустической соды и метанола
- CHINA WILL HELP UZBEKISTAN IN THE CONSTRUCTION OF A NEW CHEMICAL COMPLEX
- EXIMBANK OF CHINA WILL ALLOCATE $300 MILLION FOR THE CONSTRUCTION OF A PVC COMPLEX IN UZBEKISTAN
- SUPERVISORY BOARD MATERIALS
- PROJECT FINANCING: We cooperate with International Financial Institutions and Foreign Banks
- Yokubjon Isakov 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
Navoiyazot
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