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China Development Bank provides $16 million loan for Shargun Coal Mine Modernization Project (linked to Record ID#72686)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Uzbekistan |
| Country | Uzbekistan |
| Start Date | Jan 01, 2017 |
| End Date | Sep 30, 2026 |
| Duration | 3,559 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 40326 |
Grant Description
China Development Bank provides $16 million loan for Shargun Coal Mine Modernization Project In 2014, China Eximbank and China Development Bank together provided $105,510,000 in debt financing for the Shargun Coal Mine Modernization Project.
China Eximbank provided a $89.5 million preferential buyer’s credit loan and China Development Bank provided a $16,010,000 loan. This record captures the CDB loan.
The Shargun Coal Mine Modernization Project — also known as the “Modernization of JSC “Shargunkumir” project or 了沙尔贡煤矿现代化 — seeks to replace the existing technologies and production at Baisun and Shargun coal deposits and bring project capacity to 900 thousand tons of coal per year.
It also involves the modernization of the system of coal transportation.
China Coal Technology & Engineering Group (CCTEG) is the contractor responsible for project implementation and its work is being overseen by Uzbekcoal JSC.
Through its contract with Uzbekcoal JSC, CCTEG is responsible for delivering two mechanized complexes with production capacity of 450,000 tons per year each on a turnkey basis. China Railway Tunnel Group Co., Ltd. is also involved in project implementation.
As of September 12, 2017, China Coal Technology & Engineering Group Corp., and China Railway Tunnel Group Co., Ltd., began the preparatory work for this project. Project implementation officially began on May 23, 2018. The construction period for the project is 38 months.
The projected completion date is November 2020, which is 38 months from the preparatory work conducted in September 2017. On May 3, 2020, the project was reported to be completed. On January 11th, 2024, it was reported that the mine had been put into operation. Record ID#72686 captures the PBC loan from China Eximbank.
Sources & References
- China Coal company to invest $88 mln in modernization of coal mining in Uzbekistan
- China Coal to invest US$88m into modernization of coal mining in Uzbekistan
- Chinese company invests 88m dollars to upgrade coal production in Uzbek south
- China Coal will invest $88 million for modernization of coal mining in Uzbekistan
- Proposals on realization of government stake in JSC “Shargunkumir” to strategic investors.
- China Coal will invest $88 million for modernization of coal mining in Uzbekistan
- Chinese consortium starts modernizing coal mining in Uzbekistan
- Projects implemented at the expense of loans guaranteed by the state and at the expense of FRDU
- Development programs and prospective plans
- 对外投资合作国别指南 乌兹别克斯坦
- China Database
- Uzbekistan's first modern coal mine under construction by Chinese company
- 中企承建乌兹别克斯坦煤矿现代化改造项目如期完成阶段任务
- Uzbekistan's Shargun Coal Mine Renovation Project Participated by Chinese Enterprises Puts into Operation 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
Government of Uzbekistan
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