Completed Mixed AidData Chinese Aid

China Eximbank provides $142.46 million buyer's credit loan for Krasnoselskstroymaterialy Cement Plant Construction Project (Linked to Record ID#66650, ID#43265, ID#42171, and Record ID#66652)

$142.46M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Belarus
Country	Belarus
Start Date	Mar 06, 2009
End Date	Sep 16, 2028
Duration	7,134 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`42179`

Grant Description

China Eximbank provides $142.46 million buyer's credit loan for Krasnoselskstroymaterialy Cement Plant Construction Project On November 5, 2007, China Eximbank created a $500 million line of credit for the Government of Belarus to fund the construction of three all-dry cement plants (captured in Umbrella Record ID#42171).

Then, on March 6, 2009, China Eximbank and the Government Belarus signed a $142.46 million buyer’s credit loan agreement (China Eximbank loan ID# BLA0901 and Government of Belarus loan ID# 12-2-15/10П) for the Krasnoselsk Cement Plant Construction Project.

📋 Loan / Grant Terms

💰 Loan Amountcarried a 6

📅 Maturity10 years

⏳ Grace Period3 years

💹 Interest Rate6.6%

The Government of Belarus issued a sovereign guarantee in support of this loan.

The proceeds of the loan were on-lent from the Government of Belarus to a state-owned company called Krasnoselsk JSC (also known OJSC Krasnoselskstroimaterialy or ОАО «Красносельск-стройматериалы» or ОАО Красносельскстройматериалы), which in turn used the loan proceeds to finance a commercial contract [No.

CITICICC-1204А-BL] that it signed with CITIC Construction on December 31, 2007.

The purpose of this project was to help Krasnoselsk JSC establish a (all-dry) production line — in town of Krasnoselsky within Volkovysk district and Grodno region — with a daily production capacity of 5,000 tons of cement. CITIC Construction was the EPC contractor responsible for implementation.

Construction began on July 1, 2009. Then, on November 17, 2011, the Deputy Prime Minister of the Republic of Belarus, inspected the cement plant. The new production line officially completed and put into production on April 30, 2012.

This project passed a performance audit and it was officially handed over to the owner of the cement plant on May 26, 2013.

📋 Staff Comments

This project is also known as the Krasnoselsk Cement Plant Construction Project. The Russian project title is Строительство линии по производству клинкера сухим способом и углеподготовительного отделения.
This loan is not included in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020.
The two additional cement plant construction projects (the Krichevtsementnoshifer Cement Plant Construction Project and the Belarussian Cement Plant Construction Project) that were financed through the $500 million line of credit (issued on November 5, 2007) from China Eximbank are captured in Project ID#66650 and Project ID#66652. Note that the aggregate value of the three buyer’s credit loans that supported these three projects is equal to $500 million.

📚 Sources & References

Belarus’ govt OKs Krasnoselskstroymaterialy’s loan deal with China, Об уточнении отдельных показателей республиканского бюджета на 2018 год
President Lukashenko of the Republic of Belarus Attended the CommissioningCeremony of the Krasno Cement Factory, Об организациях цементной отрасли
Three cement production lines in Belarus
Belarus wasted $900 mln on unprofitable cement plants
白俄罗斯总统卢卡申科视察中信公司在白承建的水泥生产厂项目
Belarusian cement plants to start utilizing Chinese loans in second half of 2009, ПЕРЕЧЕНЬвнешних государственных займов, обслуживание и погашение которых осуществляются с привлечением средств республиканского бюджета ( LIST of external government loans, servicing and repayment of which are carried out with the involvement of funds from the republican budget), Соглашение о предоставлении Беларуси льготного правительственного кредита подписано с Эксимбанком Китая, Инвестиционная деятельность в Республике Беларусь, УКАЗ ПРЕЗИДЕНТА РЕСПУБЛИКИ БЕЛАРУСЬ
Belarusian Deputy Prime Minister Inspects Cement Project in Belarus
China
Krasnoselskstroimaterialy to sign loan agreement by late 2008
白俄罗斯副总理加里宁赴白俄水泥项目克诺现场视察
白俄罗斯三条水泥生产线项目
Belarusian Three Cement Production Lines Project
Cement Industry of the Republic of Belarus
KRASNOSELSKII
BELARUS - APRIL 30, 2018: View of the Krasnoselsky building materials plant of 'Krasnoselskstroymaterialy' (aerial survey), ИСТОРИЯ, Собрание акционеров белорусского ОАО«Красносельскстройматериалы» утвердило сделку и контракт с китайской СIТIК на сумму 147 млн долл, О непростой ситуации в цементной отрасли Беларуси знают не только специалисты; о ней, кажется, наслышаны все. Даже простые граждане нашей страны в курсе проблем с модернизацией цементных заводов, которые возникли давно, но обострились в последнее время. Подробнее на сайте Экономической газеты: https://neg.by/novosti/otkrytj/cementnyj-kapkan, ЗАКЛЮЧЕНИЕ НЕЗАВИСИМОГО АУДИТОРА, Беларусь подписала с Эксимбанком Китая кредитные соглашения на $390 млн, Постановление Совета Министров Республики Беларусь от 29.05.2009 № 697 'О некоторых вопросах реализации Кредитного соглашения с Экспортно-импортным банком Китая'
中信建设白俄罗斯克诺厂水泥生产新线项目受煤系统顺利交工, ПОСТАНОВЛЕНИЕ СОВЕТА МИНИСТРОВ РЕСПУБЛИКИ БЕЛАРУСЬ 4 мая 2009 г. No 572
China's Overseas Development Finance 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.