Completed Mixed AidData Chinese Aid

CDB provides $300 million loan for Kara-Balta Oil Refinery Project

$300M USD

Funder	China Development Bank (CDB)
Recipient Organization	China Petrol Company Junda LLC
Country	Kyrgyz Republic
Start Date	Sep 01, 2013
End Date	Nov 17, 2032
Duration	7,017 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`54405`

Grant Description

CDB provides $300 million loan for Kara-Balta Oil Refinery Project In September 2013, China Development Bank (CDB) signed a framework loan agreement agreement with China Petrol Company Junda LLC (also known as Zhongda China Petrol Company or «Чайна Петроль компании Джунда») for the Kara-Balta Oil Refinery Project.

By the end of 2015, CDB had disbursed $300 million to China Petrol Company Junda LLC through this framework agreement.

China Petrol Company Junda LLC is a project company established to manage the financing, design, and implementation of the Kara-Balta Oil Refinery Project (also known as the Zhongda Oil Refinery Project in Kara-Balta).

China Petrol Company Junda LLC is owned by Central Asia Energy Co., Ltd, which in turn is owned by Shaanxi Dade Investment Group Co., Ltd and Shaanxi Coal and Chemical Industry Group (a Chinese state-owned enterprise). Kara-Balta Oil Refinery Project was initiated on September 9, 2013. The refinery produced its first barrel of oil was produced in January 2014.

The refinery was officially put into operation on January 1, 2017.

It processes crude oil that is imported by rail from Russia and Kazakhstan, as well as a small amount from Kyrgyzstan itself.

The refinery paid the Kyrgyz government $43 million USD dollars in 2018, making it the country's second-largest taxpayer. It is also one of the nation's largest employers, hiring over 2,000 locals. However, the project has also been plagued by controversy. It was forced to suspend operations in 2015 temporarily after local demonstrations against pollution.

Activists in Kara-Balta said residents living close to the refinery were unable to open their windows due to a heavy thick industrial smell and pollution. The plant resumed production in 2016.

📋 Staff Comments

1. The Russian project title is НПЗ «Джунда» or Нефтеперерабатывающий завод 'Джунда'. The Chinese project title is 中亚能源有限责任公司吉尔吉斯斯坦年产80万吨炼油厂项目.

📚 Sources & References

800,000 ton/year refinery construction in Kyrgyzstan for Central Asia Energy
Kyrgyzstan
China sign framework cooperation agreement on Kara-Balta oil refinery
Chinese Companies’ Central Asian Survival Strategy
Central Asia in the Era of Sovereignty: The Return of Tamerlane?
Central Asia's Silk Road Rivalries
Neftepererabatyvayushchiy Zavod 'Dzhunda'
BRI in Central Asia: Mineral and Petroleum Exploration
Extraction and Processing Projects, 800,000 Ton/Year Refinery Construction in Kyrgyzstan for Central Asia Energy
Neftepererabatyvayushchiy Zavod 'Dzhunda'
Torch Tower of Oil Refining Project of Zhongda China Petrol Company was successfully installed
Xu Ling
中国铁路总公司铁路运输设备大修项目, Решение Комитета Жогорку Кенеша Кыргызской Республики по топливно-энергетическому комплексу и недропользованию от 18 сентября 2018 года «О ходе исполнения решений Комитета Жогорку Кенеша Кыргызской Республики по топливно-энергетическому комплексу и недропользованию о работе нефтеперерабатывающего завода ОсОО «Чайна Петрол Компани Джунда», Первый НПЗ заработал в Кыргызстане
Chinese refinery becomes Kyrgyzstan's second largest taxpayer, В Кара-Балте запущен крупный НПЗ 'Джунда'
Parliament deputies to repeatedly check Junda oil refinery in Kara-Balta, Итоги государственного визита Председателя КНР Си Цзиньпина в Кыргызстан, “海外陕煤”走天下 “助力“一带一路”能源合作
A Bright Pearl of the “Belt and Road'??——Zhongda China Petrol Company
陕煤集团：从项目探路到产业协同
吉尔吉斯斯坦的中国投资 ——石油加工业的突破口
Sep 13 - Kyrgyzstan Opened its First Oil Refinery Plant, 800,000 Ton/Year Refinery Construction in Kyrgyzstan for Central Asia Energy, Глава Минэкономики КР на встрече с вице-президентом «China Railway First Group Co.
Ltd.», КНР обсудил вопросы сотрудничества в сфере строительства железной и автомобильной дорог.
中亚能源有限责任公司吉尔吉斯斯坦年产80万吨炼油厂项目, 2015 Annual Report
CDB and Sinosure Pitch Deck 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.