Bank of China contributes to RMB 1.168 billion syndicated loan for the Hongshi Laos Cement Production Project (Linked to Record ID#100767)

Bank of China and China Eximbank contribute to CNY 1.168 billion syndicated loan for the Hongshi Laos Cement Production Project On June 2, 2017, the Zhejiang Branch of the Bank of China (BOC) and the Zhejiang Branch of the Export-Import Bank of China signed a syndicated cooperation agreement with Hongshi Holding Group to provide a RMB 1.168 billion loan to Vientiane Hongshi Saythirath Cement Co., Ltd (also known as the Vientiane Hongshi Saythirath Cement Company) for the Hongshi Laos Cement Production Project.

Vientiane Hongshi Saythirath Cement Co., Ltd is a special purpose vehicle (SPV) that is jointly owned by the China-based Hongshi Holding Group (70% ownership stake) and the Laos-based Saythirath Group (30% ownership stake).

The purpose of the $300 million project was to construct a cement plant in town of Hin Huep (Hin Hoeup, Hinheup, ຫິນເຫີບ) within Vientiane province.

It also involved the construction of a bridge — 120 meters in length and 10 meters in width — in Xinhe County within Vientiane. Upon completion, the plant was expected to supply cement for the construction of the China-Laos Railway. Project implementation commenced on February 8, 2017. The cement plant went into operation on February 8, 2018.

Record ID#64644 captures the estimated financial commitment of Bank of China while Record ID#100767 captures the estimated financial commitment of China Eximbank.