Completed Mixed AidData Chinese Aid

China Eximbank provides $176.4 million preferential buyer's credit for Phase 2 of the 230 KV Loop Transmission Line Project (Eastern Loop Line Part I) (Linked to Record ID#62340, #62335, #62321)

$176.49M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Cambodian Ministry of Economy and Finance
Country	Cambodia
Start Date	Jan 11, 2018
End Date	Aug 20, 2031
Duration	4,969 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`62337`

Grant Description

China Eximbank provides $176.4 million preferential buyer's credit for Phase 2 of the 230 KV Loop Transmission Line Project (Eastern Loop Line Part I) On January 11, 2018, China Eximbank and the Government of Cambodia signed a $176,490,468 preferential buyer's credit (PBC) agreement for Phase 2 of the 230 KV Loop Transmission Line Project (Eastern Loop Line Part I).

📋 Loan / Grant Terms

📅 Maturity20 years

⏳ Grace Period7 years

💹 Interest Rate2%

The proceeds of the PBC were to be used by the borrower to finance an EPC (commercial) contract between Electricite du Cambodge (EDC) — the country’s state-owned electricity utility — and China National Heavy Machinery Corporation (CHMC), which was signed on October 13, 2016.

According to the Government of Cambodia’s ODA Database, China Eximbank made three loan disbursements between 2019 and 2021: a $61,771,664 loan disbursement in 2019, a $52,947,140 loan disbursement in 2020, and a $61,771,664 loan disbursement in 2021.

Phase 2 of the 230 kV Loop Transmission Line Project was implemented in two parts and was financed with two separate China Eximbank loans. Part I is captured via Record ID#62337, and Part II is captured via Record ID#62340.

Phase 2 of the 230 kV Loop Transmission Line Project involved the construction of two new 50MW substations and the construction of a 230kV transmission line across four provinces in northeastern Cambodia (Stung Treng, Rattanakkiri, Kratie, and Mondulkiri) with a total length of about 275 kilometers.

CHMC was the EPC contractor responsible for implementation.

The project officially commenced on March 3, 2018, and construction was originally expected to last 36 months (estimated completion date: March 3, 2021). The transmission line was put into operation and officially commissioned on July 2, 2020. The project was ultimately completed on or around February 3, 2021.

📋 Staff Comments

This project is also known as the Cambodia State Grid 230kV Transmission and Transformation Phase Ⅱ Project (The First Part of the East Loop Line), the North Line of CHMC Cambodian East Loop Net (Phase Ⅰ) 230kV Electricity Transmission and Transformation Project, or the Cambodia Eastern Loop-Line Power Transmission Line Phase I Project. The Chinese project title is 柬埔寨国家电网230KV输变电工程二期项目(西南环网和东部环网剩余部分.
In the China’s Overseas Development Finance Dataset that Boston University's Global Development Policy Center published in December 2020, it identifies the loan commitment year as 2017 (rather than 2018) and the face value of the loan as $180 million (rather than $176,490,468). AidData relies upon the loan commitment year and face value of the loan that is reported by the borrower (the Government of Cambodia) itself. 3 One source suggests that project implementation commenced on December 19, 2017 rather than March 3, 2018. This issue merits further investigation.
Phase I of the 230 kV Loop Transmission Line Project is captured via Project ID#62335.

📚 Sources & References

second phase of the 230KV power transmission and transformatio…f Cambodia 2018.pdf
Cambodia-Laos Officially Sign Agreement on High Voltage Transmission Line Construction
Project/Program Information and Implementation Arrangements, “一带一路”大手笔——看国家如何投资柬埔寨！
中国重机柬埔寨国家电网230kV输变电二期项目正式启动实施
公司与柬埔寨国家电力公司签署230kV输变电项目二期第2部分EPC合同
国机重装启动柬埔寨东环二期输变电项目
中国重机承建柬埔寨东部环网二期项目正式开工
进出口银行签署柬埔寨国家电网230KV输变电工程二期项目和3号公路项目贷款协议
公司与柬埔寨国家电力公司签署230kV输变电项目二期第2部分EPC合同
中国进出口银行与柬埔寨经济财政部签署贷款协议
Cambodia State Grid 230kV Transmission and Transformation Phase Ⅱ Project（The First Part of the East Loop Line）,Officially Started
Chinese President Mr. Xi Jinping and Cambodian Prime Minister Mr. Hun Sen Jointly Witnessed: CHMC Signed the EPC Contract of the Cambodian State Grid 230kV Transmission and Transformation (PhaseⅡ) Project
CHMC completes first-stage construction of its Cambodian power project
The North Line of CHMC Cambodian East Loop Net (Phase Ⅰ) 230kV Electricity Transmission and Transformation Project
Smoothly Began the Live Operation
Project/Program Information and Implementation Arrangements (Updated April 2021)
List of documents to be signed during the Official Visit of H.E. Li Keqiang,
China Overseas Development Finance
Transmission Line 230KV Project Phase II (Completion of Loop Transmission Line in South Western & Eastern Part of Cambodian National Grid) Project/Program Information and Implementation Arrangements 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.