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CDB and China Eximbank pledge support for the Jizzakh Oil Refinery Project
| Funder | China Development Bank (CDB)|Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Jizzakh Petroleum JV LLC |
| Country | Uzbekistan |
| Start Date | Jan 01, 2017 |
| End Date | Oct 28, 2027 |
| Duration | 3,952 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 54498 |
Grant Description
CDB and China Eximbank pledge support for the Jizzakh Oil Refinery Project In 2017, China Development Bank and the Export-Import Bank of China signed a framework agreement with Jizzakh Petroleum JV LLC -- a joint venture of JSC Uzbekneftegaz and Gas Project Development Central Asia (a subsidiary of Gazprom International) -- to express their interest in financing the Jizzakh Oil Refinery Project.
It was envisaged that this project would be cofinanced by Gazprombank of Russia and BELVOR Holdings Ltd of Cyprus.
However, it is unkown if China Eximbank and China Development Bank followed up on their pledge by providing debt financing for this project.
The Jizzakh Oil Refinery Project involves the construction of an oil refinery complex in Zafarabad district and Jizzakh region capable of processing 5 million tons per year of crude oil to produce clean-burning gasoline, diesel and jet fuel. The total estimated cost of the project is $2.2 billion USD.
Enter Engineering Pte. Ltd. of Russia, Amec Foster Wheeler PLC of the UK, and Hyundai Engineering Co. Ltd. of South Korea are the contractors responsible for project implementation. Construction began in April 2017. However, the project was suspended in December 2018.
If and when the refinery is completed, it is expected to produce 3.7 million tpy of motor fuel conforming to Euro 5-quality specifications, as well as 700,000 tpy of aviation fuel and 300,000 tpy of other finished products.
Sources & References
- Projects implemented at the expense of loans guaranteed by the state and at the expense of FRDU
- Uzbekistan breaks ground on new refinery
- Uzbekistan lets contract for refinery in Jizzakh region
- BRI in Central Asia: Mineral and Petroleum Exploration
- Extraction and Processing Projects
- Russian company inks deal to build oil refinery in Uzbekistan
- Jizzakh Petroleum To Build New Refinery In Uzbekistan With Technology From Honeywell UOP
- Uzbekistan plans to reduce state stake in Jizzakh Petroleum to 30%
- Jizzakh Petroleum mulls cooperation on refinery project with FESCO
- Axens
- Hydrocarbon Engineering, “O'zsanoatqurilishbank” ATB “Jizzakh Petroleum” qo'shma korxonasini tashkil etish uchun $300 mln. ajratdi
- Jizzakh Petroleum loyihasi nega sustlashgan?
- Jizzakh refinery construction suspended
- South Korean SK E&C modernizes Bukhara refinery
- Construction of advertised oil refinery in Uzbekistan suspended
- Has there been a fundamental breakthrough in economic relations between Uzbekistan and the United States?
- Jizzakh Petroleum and FESCO
- Axens collaborate on oil refining project 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
Jizzakh Petroleum JV LLC
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