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China Development Bank provides a $100 million loan to Chem-Plus LLP for the production of caustic soda in the Chemical Park Taraz Special Economic Zone
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Chem-Plus LLP |
| Country | Kazakhstan |
| Start Date | Jun 01, 2017 |
| End Date | Jan 17, 2033 |
| Duration | 5,709 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 70646 |
Grant Description
China Development Bank provides a $100 million loan to Chem-Plus LLP for the production of caustic soda in the Chemical Park Taraz Special Economic Zone In June 2017, China Development Bank (CDB) signed a $100 million loan agreement with Chem-Plus LLP to finance the production of caustic soda. The loan carried the following terms: a maturity of 10-years and an interest of 4.7% per annum.
The project had a total cost of ₸47.6 billion KZT, approximately $142.8 million in 2017.
The project, which was located in Chemical Park Taraz Special Economic Zone in the Shu District of the Jambyl Region, sought to construct a caustic soda line at the Formulation Complex, intended for the production and sale of plant protection products (herbicides) for the Kazakhstani market. It was to be capable of producing 40,000 tons.
The commissioning was planned for 2020.
Construction had begun by 2017, but it had been suspended until a decision was made on the further implementation of the project's fourth start-up glyphosate complex.
A consortium led by Kazakhstani company Construction Corporation Kulager LLP was awarded the engineering, procurement, and construction (EPC) contract for the project on November 20, 2017.
In addition to Kulager LLP, the consortium featured German company Chemieanlagenbau Chemnitz GmbH, Kazakhstani company Promstroyproekt Design Institute LLP and Kazakhstani company Aral Service LLP. Construction was ongoing as of December 31, 2018.
The complex was ultimately commissioned in January 2019, but it appeared that the caustic soda line had not gone into production at that time.
Staff Comments
- Chem-Plus LLP is sometimes also called 'KHIM-Plus' LLP or ТОО «ХИМ-плюс». Chem-Plus refers to this project in Russian as «Производство каустической соды и хлора» or Проект «Производство каустической соды».
- The shareholders of Chem-Plus LLP were Kazakh state-owned enterprises: United Chemical Company LLP (99.87% ownership stake) and Samruk-Kaazyna Invest LLP (.13% ownership stake).
Sources & References
- ГОДОВОЙ ОТЧЕТ 2017 год
- Astana hosts fourth meeting of Kazakhstan-China Business Council
- Annual report 2018
- China successfully holds agricultural exhibition in Kazakhstan, ГОДОВОЙ ОТЧЕТ 2015 год
- Actual projects - Chem-Plus LLP, Айдын Рахимбаев возглавил ренкинг крупнейших получателей господряда в Казахстане
- Chem-plus LLP Financial statements For the year ended 31 December 2018 together with independent auditor's report
- Civil and Industrial Construction 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
Chem-Plus LLP
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