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China Eximbank provides $183.29 million buyer’s credit loan for Krichevtsementnoshifer Cement Plant Construction Project (Linked to Record ID#66652, ID#43265 ID#42171, and ID#42179)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Belarus |
| Country | Belarus |
| Start Date | Oct 29, 2008 |
| End Date | Jun 01, 2031 |
| Duration | 8,250 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66650 |
Grant Description
China Eximbank provides $183.29 million buyer’s credit loan for Krichevtsementnoshifer Cement Plant Construction Project On November 5, 2007, China Eximbank created a $500 million line of credit for the Government of Belarus to fund the construction of three all-dry cement plants (captured in Umbrella Record ID#42171).
Then, on October 29, 2008, China Eximbank and the Government Belarus signed a $183,290,000 buyer’s credit loan agreement (China Eximbank loan ID# BLA0807 and Government of Belarus loan ID# 12-2-15/4П ) for the Krichevtsementnoshifer Cement Plant Construction Project.
On October 29, 2008, China Eximbank and the Government Belarus also signed an RMB 200 million government concessional loan (GCL) agreement (China Eximbank loan ID# № GCL (2008) 025 (244) and Government of Belarus loan ID# 12-2-15/2П) for the Krichevtsementnoshifer Cement Plant Construction Project.
The Government of Belarus issued sovereign guarantee in support of the buyer’s credit loan and the government concessional loan.
The proceeds of the buyer’s credit loan (captured in Record ID#66650) and government concessional loan (captured in Record ID#43265) were on-lent from the Government of Belarus to a state-owned company called OJSC Krichevcementnoshifer (also known as PRUE "Krichevcementnoshifer" or ОАО «Кричевцементношифер»), which in turn used the loan proceeds to finance a commercial contract [№ CITICICC-1204А-BL] that it signed with CITIC Construction on December 31, 2007.
The purpose of this project was to help OJSC Krichevcementnoshifer establish a (all-dry) production line — in the town of Krichev within Krichev district and Mogilev region — with a daily production capacity of 5,000 tons of cement. CITIC Construction was the EPC contractor responsible for implementation.
The new production line was officially completed and put into production on June 22, 2013. It was officially commissioned on August 16, 2013. OJSC Krichevcementnoshifer is one of the largest enterprises in Belarus for the production of building materials. It was founded in 1933, and renamed as PRUEK "Krichevcementnoshifer" in 2000.
Staff Comments
- The Chinese project title is 克里切夫水泥厂or 白俄罗斯水泥项目. The Russian project title is 'Строительство линии по производству цемента сухим способом и углеподготовительного отделения на ПРУП «Кричевцементношифер».
- This loan is not included in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020.
- The two additional cement plant construction projects (the Belarussian Cement Plant Construction Project and the Krasnoselskstroymaterialy Cement Plant Construction Project) that were financed through the $500 million line of credit (issued on November 5, 2007) from China Eximbank are captured in Project ID#66652 and Project ID#42179.
Sources & References
- 宫建伟大使应邀与白副总理参加中方承建项目现场会
- China investors help maintain high production level in Belarus
- Belarus
- China sign loan agreement
- Economic cooperation between Republic of China and Republic of Belarus in the context of implementing the One Belt
- One Road Foreign Economic Strategy, Об организациях цементной отрасли, ПЕРЕЧЕНЬвнешних государственных займов, обслуживание и погашение которых осуществляются с привлечением средств республиканского бюджета ( LIST of external government loans, servicing and repayment of which are carried out with the involvement of funds from the republican budget), Инвестиционная деятельность в Республике Беларусь, УКАЗ ПРЕЗИДЕНТА РЕСПУБЛИКИ БЕЛАРУСЬ
- The Belarusian Klichev Cement Plant undertaken by our company went into operation smoothly
- 中信建设董事长洪波与白俄总统卢卡申科共同出席白俄罗斯克里切夫水泥厂新生产线点火仪式
- 白俄罗斯三条水泥生产线项目
- Belarusian Three Cement Production Lines Project
- Cement Industry of the Republic of Belarus, Указ Президента Республики Беларусь от 16 мая 2019 года № 181 Об организациях цементной отрасли, Беларусь подписала с Эксимбанком Китая кредитные соглашения на $390 млн
- Oao Krasnosel'skstroymaterialy, Соглашение о предоставлении Беларуси льготного правительственного кредита подписано с Эксимбанком Китая
- 白俄罗斯总统出席中国承建水泥厂投产仪式
- China's Overseas Development Finance 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
Government of Belarus
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