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China Eximbank provides $70 million loan for Hamadan Cement Factory Construction Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | China National Electric Engineering Co., Ltd. (CNEEC) |
| Country | Iran |
| Start Date | Jan 01, 2005 |
| End Date | Jan 03, 2031 |
| Duration | 9,498 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 41289 |
Grant Description
China Eximbank provides $70 million loan for Hamadan Cement Factory Construction Project In 2005, China National Electric Equipment Corporation (CNEEC) signed a commercial contract to construct a cement factory in Hamadan ( استان همدان) Province.
It was reported that the plant would be totally financed by the CNEEC, and the financing was secured by a $70 million loan from China Eximbank.
Of the $70 million, $33 million was to be allocated for the acquisition of machinery and $25 million was to be allocated for the construction of factory facilities. The remainder was set aside for miscellaneous equipment and mining machinery. The project was expected to take 30 months to complete and result in 5,400 jobs.
Upon completion, the cement factory was expected to be run as a joint venture (with 40% Chinese ownership and 60% Iranian ownership).
This cement plant is now functional; however, it is unclear if the project was ultimately implemented with support from China Eximbank.
Staff Comments
1. A BBC Monitoring source identifies the face value of the loan as $7 million, but this appears to be a typo. AidData records the face value of the loan as $70 million.
Sources & References
- China to build cement factory in western Iran, طي يك قرارداد 72 ميليون دلاري چين در همدان كارخانه سيمان احداث ميكند
- How many cement plants are producing in Iran 2020?
- Iran western in factory cement build to China - IRNA English
- CHINESE COMPANY TO INVEST IN HAMEDAN CEMENT PLANT
- China to build cement factory in western Iran 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
China National Electric Engineering Co., Ltd. (CNEEC)
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