Active Development AidData Chinese Aid

CITIC pledges $500 million loan for Khuzestan Green Paper Factory Project

$500K USD

Funder	CITIC Group Corporation Ltd.
Recipient Organization	Government of Iran
Country	Iran
Start Date	Jan 01, 2017
End Date	Apr 03, 2027
Duration	3,744 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`67645`

Grant Description

CITIC pledges $500 million loan for Khuzestan Green Paper Factory Project In 2017, CITIC Group Corporation Ltd. reportedly agreed to issue a loan for the $500 million for the Khuzestan Green Paper Factory Project (or کاغذ سبز خوزستان).

The purpose of the project is to build a factory in Khuzestan Province that is capable of producing 240,000 tons of paper, which meets 38% of Iran's annual paper needs. The paper will be produced from sugar cane pulp (bagas) and will create 464 jobs directly and 2,000 jobs indirectly.

A formal project commencement ceremony took place on December 24, 2019; however, AidData has not identified any evidence that a loan agreement with CITIC Group Corporation Ltd. was finalized. A partnership agreement was signed on December 24, 2019 for setting up Khuzestan Green Paper Mill.

📋 Staff Comments

CITIC Group Corporation Ltd. is a state-owned investment company of the People's Republic of China.It is unclear if the CITIC loan was ever finalized and officially committed-to; therefore, this project is status-coded as a pledge rather than a commitment or being in implementation for the time being.

📚 Sources & References

عبور 12 طرح از هفت خان تأمین مالی خارجی/ 38 درصد فاینانس‌ها به نیمه‌راه رسید+جدول, 12 طرح از هفت خان تأمین مالیخارجی/ 38 درصد فاینانس‌ها بهنیمه‌راه رسید+جدول, پروژه‌های مهم در کشور با استفاده از ۱۷ میلیارد دلار فاینانس از طریق چین در حال اجرا است, پرونده فاینانس‌های پسابرجامی بسته شد, اجرای پروژه کاغذسبزخوزستان مؤثر در جلوگیری از خروج ارز, اجرای پروژه راهبردی کاغذ سبز خوزستان، اقدامی مؤثر برای جلوگیری ازخروج ارز و صیانت از محیط زیست, ایجاد ظرفیت تولید سالانه ۲۴۰ هزار تن کاغذ, ارائه گزارش بانک مرکزی در خصوص توافقات تأمین مالی با چین در جلسه هیئت, کارخانه کاغذ ۲۴۰ هزار تنی در خوزستان احداث می_شود - ایسنا, کارخانه کاغذ ۲۴۰ هزار تنی در خوزستان احداث می_شود _ بازاریابی صنعتی_فروش صنعتی_مشاوره بازاریابی_افزایش فروش_مشاوره فروش
Agreement Signed to Set Up Paper Mill in Khuzestan _ Financial Tribune 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.