Loading grant details…
China Eximbank provides $29.1 million preferential buyer’s credit for Floating Dock Construction Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Cuba |
| Country | Cuba |
| Start Date | Jan 01, 2017 |
| End Date | Feb 26, 2032 |
| Duration | 5,534 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 69333 |
Grant Description
China Eximbank provides $29.1 million preferential buyer’s credit for Floating Dock Construction Project On June 23, 2017, China Eximbank and the Government of Cuba signed a $29.1 million preferential buyer’s credit (PBC) agreement for the Floating Dock Construction Project.
The borrower was expected to use the proceeds of the loan to finance 85% of the cost of a $34 million EPC (commercial) contract with China General Technology Group Holding Ltd. and China National Machinery Import and Export Corporation (CMC).
The purpose of the project was to construct a floating dock with with a lifting capacity of 22,000 tons at the Port of Havana.
The dock was originally expected to provide ship repair services and be managed by Cuba's state-owned Caribbean Drydock Company SA.
China National Machinery Import and Export Corporation (CMC) and China General Technology Group Holding Ltd. were the EPC contractors responsible for project implementation. The 18-month project was completed on October 27, 2019. An official project handover ceremony took place on October 30, 2019. The dock itself was put into operation at the end of 2019.
On October 24, 2023, the official opening ceremony of the floating dock was held at the Cuban Caribbean Dock Engineering Co., Ltd. The floating dock is 240 meters long, 48 meters wide, 18 meters high, and has a lifting capacity of 22,000 tons.
Staff Comments
- The Spanish project title is Proyecto de Construcción de un Dique Flotante or La infraestructura Floting Dock 2. The Chinese project title is 2200TLC浮船坞项目.
- This China Eximbank loan is not captured in the China-Latin America Finance Database, which is co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center.
Sources & References
- Cuba recibe dique flotante chino para recuperar astilleros
- Cuba compra a china un dique flotante con capacidad para buques Panamax
- Cuba recibe moderno dique flotante fabricado en China
- 通用物流公司董事长兼总经理施延钊会见古巴交通副部长及哈瓦那船厂总经理一行
- 中国交付浮船坞助力古巴航运业发展
- Tratados ratificados por Cuba
- 中国交付浮船坞助力古巴航运业发展
- Naval repair industry revives in Cuba with new dock
- Cuba compra a China un moderno dique flotante para reparaciones navales
- Cuba recibe moderno dique fabricado en China
- Cuba has a new modern floating dock
- China National Machinery Import and Export Corporation Sustainability Report on Serving the Belt and Road Initiative
- Cuba adquiere el mayor y más moderno dique flotante fabricado en China
- Feature: Chinese-built floating dry dock to boost Cuban shipping industry
- Tratados ratificados por Cuba
- China-Latin America Finance Database
- China's Overseas Development Finance
- 驻古巴使馆临时代办张步新出席古巴浮船坞项目启用仪式
- 驻古巴大使马辉再次考察古巴浮船坞项目
- 古巴启用中国制造现代化浮船坞
- Díaz-Canel highlights floating dock’s operation with China’s support
- Modern Chinese floating dock inaugurated in Cuba
- Cuba hopes to overcome its economic crisis with China's help 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 Cuba
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
