Completed Mixed AidData Chinese Aid

China Eximbank provides $32 million buyer’s credit loan for 75MW Mone Creek Multipurpose Dam Construction Project

$32M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Myanmar Electric Power Enterprise
Country	Myanmar
Start Date	Nov 08, 2000
End Date	May 17, 2030
Duration	10,782 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`49955`

Grant Description

China Eximbank provides $32 million buyer’s credit loan for 75MW Mone Creek Multipurpose Dam Construction Project On November 20, 1998, China International Trust and Investment Corporation (CITIC) Technology Co Ltd signed an MoU with Myanmar’s Ministry of Electric Power on equipment supply and servicing for the 75MW Mone Creek Multipurpose Dam Construction Project.

Then, on November 8, 2000, Sinohydro Corporation Limited and CITIC signed a $17.5 million contract for the provision of power generation equipment and technical support to the project. China Eximbank reportedly issued a $32 million buyer’s credit loan in support of the project.

The proceeds of this loan were likely used (in part) by the borrower to finance the contract between Sinohydro Corporation Limited and CITIC.

The project involved the construction of a 75MW hydroelectric power plant and dam on the Mone Creek in Sedoktara Township (two miles north of Minbu District, Magway Division). The dam is 4,320 ft long and the embankment is 200 ft high. It has a water storage capacity of 674,400-acre-ft and can irrigate 108,000 acres.

Mon Creek hydropower station is 258 ft long, 128 ft wide and 110 ft high. Three turbine generators at the hydropower are capable of generating 75MW.

The ultimate purpose of the project was to increase the supply of irrigation water, expand paddy cultivation by over 70,000 acres, prevent flooding, and generate 330 kWh per year. CITIC and Sinohydro Corporation Limited were the contractors responsible for implementation of the project. The project was completed on December 29, 2004.

📋 Staff Comments

This project is also known as the Mone Chaung Hydropower Project, the 3x25MW Mon Creek Multipurpose Dam Construction Project, and the Mon Creek Hydro Power Station Project. The Chinese project title is 孟河水电站.
The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.
The loan commitment (transaction value) of $32 million is taken from page 24 of 'Sino-Myanmar Economic Relations Since 1988,' where it is reported that in 1998 CITIC signed an MoU for $52 million for two power plants. One of the power plants under the MoU (Thaphenseik hydroelectric power plant) is described as costing $20 million, which is why the Mone Creek power plant is recorded as having a monetary value of $32 million.

📚 Sources & References

Sino-Myanmar Economic Relations Since 1988
Asia Research Institute Working Paper Series No. 86
CHINA IN BURMA:THE INCREASING INVESTMENT OF CHINESE MULTINATIONAL CORPORATIONS IN BURMA’S HYDROPOWER
OIL AND NATURAL GAS
AND MINING SECTORS
ELECTRICAL INDUSTRY OF BURMA/MYANMAR ON-LINE COMPENDIUM
孟河水电站
中国在缅甸: 中国跨国公司加大在缅甸水电、原油及天然气、原油及天然气以及采矿领域的投资力度
China in Burma
缅甸孟河水电站(MONE)项目
Government to generate 2,000 more megawatts during five-year plan Thanks to Mone Creek Multipurpose Dam, dry Pwintbyu plain can now increase irrigated areas
新的长城：中国海外水坝行业指南
The New Light of Myanmar
Chinese Investments in Myanmar: A Scoping Study
Mone Dam
China 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.