China Eximbank provides $118 million loan for 15,000 Hectares Agricultural Industrial Park Project and 200,000 Spindle Textile Project (Linked to Record ID#54353, #71757)

China Eximbank provides $118 million loan for 15,000 Hectares Agricultural Industrial Park Project and 200,000 Spindle Textile Project In June 2016, at the 2016 Silk Road Financial Forum in Warsaw, Poland, the Xinjiang Branch of the Export-Import Bank of China signed a framework agreement with Xinjiang Zhongtai (Group) Co., Ltd for the 15,000 Hectares Agricultural Industrial Park Project and 200,000 Spindle Textile Project.

Then, a commissioning ceremony for the project took place on August 31, 2016.

China Eximbank provided a $118.343 million loan in 2016 to Zhongtai (Dangara) New Silk Road Textile Industry Company for the 15,000 Hectares Agricultural Industrial Park Project and 200,000 Spindle Textile Project. Zhongtai (Dangara) New Silk Road Textile Industry Company is the company responsible for project implementation.

Zhongtai (Dangara) New Silk Road Textile Industry Co., Ltd. was founded in the Dangara District of Tajikistan's Khatlon Province in 2014 by China's Xinjiang Zhongtai Group and Xinjiang Production and Construction Corps.

The Zhongtai Dangara Agriculture and Textile Industrial Park project consisted of an agricultural park with 15,000 hectares for growing cotton; a spinning plant with 110,000 spindles and manufacturing facilities for weaving, printing and garment. The groundbreaking ceremony of the entire Agricultural and Textile Project was held on December 19, 2014.

The second phase, including the start of the airflow of 50,000 spindles, was to be completed in 2017.

The launch ceremony of the second phase of the air spindles was held, and the third phase held its groundbreaking ceremony on November 5, 2018. The third and fourth phases started on March 18, 2019. As of March 18, 2019, the third and fourth stages of the project were in progress.

The project's originally projected completion date was March 1, 2021 which is when the whole park was expected to be complete and put into operation.

The Agricultural and Textile Industrial Park project was reportedly the largest agricultural and textile investment project in Tajikistan since its independence in 1991. The project included 200,000 mu of cotton agricultural park and 150,000 spinning spindles.

The first phase of 150,000 mu of cotton was to be sown in 2015, and the spinning project was to be completed and put into operation on August 31, 2016.

After the project is completed, the industrial park was expected to be able to produce 80,000 tons of seed cotton, 32,000 tons of lint, 24,000 tons of cotton yarn, 91.5 million meters of cotton cloth, annual sales revenue of RMB 1.525 billion, and a profit of RMB 250 million, improving the welfare of its workers and driving industrial and agricultural development in Tajikistan.