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Chinese Government provides RMB 40 million grant -- via ETCA -- for supply and installment of equipment at velvet factory (Linked to Record ID#69309)
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Government of Turkmenistan |
| Country | Turkmenistan |
| Start Date | Jan 01, 2006 |
| End Date | Feb 12, 2028 |
| Duration | 8,077 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 69310 |
Grant Description
In 2006, the Chinese Government agreed to issue an RMB 50 million interest-free loan (captured via Record ID#69309), and a RMB 40 million grant (captured in Record ID#69310), to the Government of Turkmenistan for the supply and installation of technological equipment and accessories a a velvet factory under construction in the Ruhabat District.
The agreement was made in accordance with a long-term Economic and Technical Cooperation Agreement (ETCA) between the Turkmen and Chinese governments.
Shanxi Zhongxu International Trade Industrial Co., Ltd (Chinese title is ' 山西中旭') was the contractor responsible for implementation.
The factory was planned to be commissioned in October 2007, and expected to have a production capacity of 1 million meters of velvet annually.
The project was completed on October 22, 2008 in a ceremony that was attended by President of Turkmenistan Gurbanguly Berdimuhamedov.
The factory provided employment for 550 people, and its velvet production capacity was expected to meet domestic and foreign demand. The total cost of the project was $28.75 million.
In addition to financial contributions from the Chinese Government, the oil and gas industry of Turkmenistan provided $12.6 million.
Sources & References
- China helps Turkmenistan to build velvet factory
- 中国同土库曼斯坦的关系
- The China and Eurasia Forum Quarterly Vol 6
- No 2 88 / 120
- Turkmenistan: A Velvet Factory is Opened in Akhal Province
- Turkmenistan - Retrospective of the 30th Anniversary of China's Opening to the Outside World
- Turkmenistan
- China sign a number of documents after top level talks in Beijing
- 土库曼斯坦--中国对外开放30周年回顾展 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 Turkmenistan
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