Active Development AidData Chinese Aid

CDB provides $24 million loan to ZTE Energy for Palm Garden Project

$24M USD

Funder	China Development Bank (CDB)
Recipient Organization	ZTE Energy Co., Ltd.
Country	Indonesia
Start Date	Jan 01, 2017
End Date	Feb 13, 2026
Duration	3,330 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`66413`

Grant Description

CDB provides $24 million loan to ZTE Energy for Palm Garden Project In 2017, China Development Bank and ZTE Energy — a Chinese state-owned enterprise — signed a $24 million loan agreement for the Palm Garden Project.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

However, it is known that the borrower purchased credit insurance from Sinosure.

The implementation status of this project, which reportedly supported one or more palm oil plantations on about 120,000 acres in Central Kalimantan Province, is unknown.

📋 Staff Comments

This project is also known as the ZTE Energy Indonesia Palm Garden Project and the Palm Oil Plantation Project. The Chinese project title is 中兴能源棕榈园项目.
ZTE Energy purchased two palm oil companies in Indonesia's Kalimantan Island with 30,000 hectares of farmland in 2009. About 13,000 hectares are planted with palm trees. With a $100 million investment, the company was expecting to produce 50,000 tons of palm oil by the end of 2012.

📚 Sources & References

PRACTICE AREAS
Guo Jun
President of ZTE Energy , went deep into the first line to inspect the Palm Garden of Indonesia
印度尼西亚棕榈园种植项目
中兴能源积极履行社会责任印尼棕榈项目获赞
Growing in greener pastures
Brief Summary/Kesimpulan Singkat Working Group on Oil
Gas and Coal 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.