Active Development AidData Chinese Aid

China Eximbank provides $65.3 million loan for Geological Survey Project

$65.3M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Angola
Country	Angola
Start Date	Mar 17, 2017
End Date	Jan 26, 2028
Duration	3,967 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`67496`

Grant Description

China Eximbank provides $65.3 million loan for Geological Survey Project On March 17, 2017, China Eximbank and the Government of Angola signed a $65.3 million loan agreement for the Geological Survey Project.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

The borrower was allowed to use the proceeds of the loan to finance a $77 million commercial contract with CITIC Construction, which was signed in October 2013.

This project involved carrying out airborne geophysical surveys, 1:250000 geochemical surveys, 1:250000 regional geological mapping, 1:50000 professional geotechnical engineering exploration research, 1:50000 metal mineral exploration and 1:50000 building materials mineral exploration in the northwest section of the country, and the construction of a scientific laboratory (under the auspices of the Angolan Institute of Geology) of international advanced level in Luanda, Lubango and Saurimo.

The laboratory provides 12 months of job training and 24 months of laboratory operation technical services.

The purpose of the laboratory was to provide a systematic, solid and comprehensive development platform for the geological and mineral work in Angola.

The groundbreaking ceremony for this project took place on May 13, 2014 but construction did not begin until August 2014. 75% of the airborne geophysical work and 8.3% of the construction work was completed by the end of 2015.

While the projected completion was supposed to occur during 2017, as of August 2020, project progress was at 97% and is expected to continue into 2021.

📋 Staff Comments

This project is also known as the PLANAGEO Project and the National Geology Plan Project. The Portuguese project title is El laboratorio central del Plan Nacional de Geología (PLANAGEO). The Chinese project title is PLANAGEO项目 or 安哥拉国家地质调查项目.
This project should not be confused with the Geological Institute of Angola (IGEO) Project (安哥拉地质研究所工程项目), which was also implemented by CITIC Construction (under a $62 million USD construction contract) and completed in 2017 (See: '安哥拉总统为中信建设安哥拉地质研究所工程项目剪彩 and Instituto Geologico de Angola and 安哥拉地质研究所新设施落成”).

📚 Sources & References

Angola promete ser modelo da nova cooperação com à China
Angola abre concurso público para atribuir direitos mineiros
ANGOLA IS NOW ANGOLA INVESTMENT GUIDE
El potencial minero de Angola seduce a los inversores internacionales
Angola signs mining, water deals with China
Angola signs mining, water deals with China
Angola: Ministry of Geology Signs Infrastructure Construction Deal
安哥拉总统为中信建设安哥拉地质研究所工程项目剪彩
安哥拉地质研究所新设施落成
中国中信集团支持安哥拉实施地质计划
安哥拉地质调查项目
Angolan Geological Survey Project
Angolan IGEO Infrastructure Project
安哥拉地质研究所（IGEO）基础设施项目
安哥拉总统为中信建设安哥拉地质研究所工程项目剪彩
中信建设承施的安哥拉地质研究所罗安达实验中心竣工落成
Instituto Geologico de Angola
中信建设承建的安哥拉地质研究所罗安达实验中心竣工落成
Chinese-led geological survey of Angola to resume in 2021
安哥拉明年重启中企领导的地质调查
Angola y China firman un acuerdo en el sector de la geología
中信建设承施的安哥拉地质研究所罗安达实验中心竣工落成
中信建设安哥拉地调项目开工典礼成功举行
CITIC Construction's Geological Survey Project in Angola Successfully Held the Commencement Ceremony
Angolan President Cuts Ribbon for IGEO Project Undertaken by CITIC Construction
Angola y China firman un acuerdo en el sector de la geología
安哥拉总统出席地质研究所工程项目剪彩仪式
Chinese Loans to Africa Database, 2015 CITIC Construction Business and Financial Review
Minister of Finance signs agreements in China
ANGOLA ASSINA ACORDOS PARA SECTOR DAS MINAS E ÁGUAS NA CHINA
进出口银行的非洲足迹—安哥拉篇 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 Angola

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