Completed Mixed AidData Chinese Aid

China Eximbank provides preferential buyer's credit for Kyaukse Glass Factory Construction Project

$25.5M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Myanmar Ministry of Industry
Country	Myanmar
Start Date	Dec 05, 2007
End Date	May 03, 2027
Duration	7,089 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`64286`

Grant Description

China Eximbank provides preferential buyer's credit for Kyaukse Glass Factory Construction Project On December 5, 2007, China Construction & Agricultural Machinery Company (CAMC) and Myanmar’s Ministry of Industry signed a $30 million EPC contract for the Kyaukse Glass Factory Construction Project.

China Eximbank and the Government of Myanmar subsequently signed a preferential buyer’s credit (PBC) agreement for the Kyaukse Glass Factory Construction Project. The proceeds of the PBC were to be used by the borrower to finance the EPC contract.

The purpose of the project was to build a Kyaukse glass production line with a daily melting capacity of 150 tons and to provide three further processing lines for tempered glass, laminated glass, and mirror glass.

The glass factory was built at the foot of Yinswe Hill, 5 miles east of the town of Kyaukse in Kyaukse Township, Kyaukse District, and Mandalay Region. Construction began in 2007. China Eximbank conducted an on-site, post-loan inspection on May 2, 2013. The project was officially completed on January 11, 2014.

📋 Staff Comments

This project is also known as the Mandalay Float Glass Factory Project and the Float Glass Factory (Kyaukse) Project. The Chinese project title is 曼德勒省浮法玻璃厂 or 皎色浮法玻璃厂 or 浮法玻璃项目 or 缅甸浮法玻璃项目.
Per China Eximbank’s policy that a PBC can be used to finance up to 85% of the cost of a commercial contract, AidData has recorded the face value of the PBC (i.e. the transaction amount) as 85% of $30 million.
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.

📚 Sources & References

中国进出口银行对中工国际缅甸浮法玻璃项目进行贷后检查
Glass and Glassware Industry in Myanmar
缅甸浮法玻璃厂举行开业庆典仪式
中工国际缅甸浮法玻璃厂项目竣工典礼顺利举行
缅甸总统出席皎色浮法玻璃厂开业典礼
缅甸浮法玻璃项目正式启动
COMPLETION CEREMONY OF CAMCE MYANMAR FLOAT GLASS FACTORY HELD
President U Thein Sein inaugurates Mandalay Float Glasses Factory
Senior General Than Shwe attends coordination meeting (1/2008) of Special Projects Implementation Committee
China's Overseas Development Finance
Float Glass Plant in Myanmar
Announcement of Major Contracts of CAMCE
The Export-Import Bank of China conducts post-loan inspections on the Myanmar float glass project
Consul General Yu Boren attended the opening ceremony of the Float Glass Factory in the Kyaukse Industrial Zone
CAMCE signed a US$109.04 million contract without affecting performance 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.