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China Eximbank contributes $64.5 million to $129 million syndicated loan for Shieli Cement Production Plant Construction Project (Linked to Record ID#53795)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Gezhouba Shieli Cement Company LLC (葛洲壩西里水泥有限公司) |
| Country | Kazakhstan |
| Start Date | Jan 01, 2017 |
| End Date | Nov 30, 2031 |
| Duration | 5,446 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 70845 |
Grant Description
In 2017, Bank of China and China Eximbank contribute to USD 129 million syndicated loan for Shieli Cement Production Plant Construction Project, Kazakhstan In 2017, Bank of China (BOC) and the Export-Import Bank of China provided a $129 million syndicated loan to Gezhouba Shieli Cement Company LLC to finance the construction of the cement production plant in Kazakhstan.
The loan carried a maturity period of nine years.
China Gezhouba Group Cement Co., Ltd. proved a guarantee for the loan, while China Export & Credit Insurance (Sinosure) provided overseas investment insurance that covered political risk up to 95%. The project had a total cost of $178.03 million. China Eximbank provided 50% of the loan, or $64.5 million.
The BOC contribution is captured via Record ID#53795. This cement plant was located in Shieli of the Shieli District within the Kyzylorda Region.
The plant was designed to have daily production of 2,500 tons of clinker cement and an annual production of 1 million tons of cement. It was also designed to produce nine different nine types of cement. Its major product was oil well cement, which was expected to help reduced Kazakhstan's reliance on imports.
The plant was expected to be completed before the end of 2018.
China Triumph International Engineering Co., Ltd. (CTIEC) won the engineering, procurement and construction (EPC) contract in April 2017. Its subsidiary Beijing Triumph International Engineering Co., Ltd. assumed responsibility for design work. Construction began on April 7, 2017. The official opening ceremony of the plant was on December 11, 2018.
The plant was officially put into operation on October 18, 2019.
Staff Comments
1. Gezhouba Shieli Cement Company LLC (葛洲壩西里水泥有限公司) is a joint venture between China Gezhouba Group Corporation Limited (CGGC) (50%), China Gezhouba Group Overseas Investment Co., Ltd (20%), a subsidiary of CGGC, and a local cement company called DANAKE Corporation (sometimes called Kazakhstan Darnak Co., Ltd.) (30%).
Sources & References
- 33. Daily Cement Production Capacity of 2500 Tons in Kazakhstan
- Steppe Cement revenue rises by 20% to US$65.6m in 2017
- New Chinese-Kazakh cement plant put into operation in SW Kazakhstan
- Shuttered at home, cement plants bloom along China's new Silk Road
- Energy China Group-built Cement Project in Kazakhstan Put into Production
- China Gezhouba Group Stock Company Limited Summary of 2016 Interim Report
- China Gezhouba Group Cement's Shieli plant put into operation
- New Chinese-Kazakh cement plant put into operation in SW Kazakhstan
- 刘怀亮参加中哈企业家委员会第六次会议暨圆桌会议, 33. Daily Cement Production Capacity of 2500 Tons in Kazakh
- Brief Introduction
- 汇聚金融力量 布局“一带一路” 中行银团贷助葛洲坝水泥落籍哈萨克斯坦建厂兴业【人民网】
- 进出口银行湖北省分行支持“一带一路”建设成效显著 原文網址：https://kknews.cc/finance/r5lq4mx.html 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
Gezhouba Shieli Cement Company LLC (葛洲壩西里水泥有限公司)
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