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CDB provides $3.3 million loan for a cement plant construction project
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) |
| Country | Uzbekistan |
| Start Date | Jan 01, 2017 |
| End Date | Dec 02, 2026 |
| Duration | 3,622 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 71979 |
Grant Description
CDB provides $3.3 million loan for a cement plant construction project In 2017, China Development Bank provided a $3.3 million loan to National Bank for Foreign Economic Activity of Uzbekistan for the construction of a cement factory in Samarkand region with the capacity to produce 500-700 tons of cement a day.
National Bank for Foreign Economic Activity of Uzbekistan used the proceeds of this loan to on-lend to another entity.
Multiple Chinese EPC contractors were responsible for project implementation, including China Gezhouba Group Overseas Investment Co., Ltd., China Gezhouba Group Cement Co., Ltd. and Gansu Hengya Cement Co., Ltd. After an alleged misallocation of funds, the Chinese firm's EPC turnkey contract faced possible termination.
It then obtained legal counsel (Kosta Legal), but the dispute was ultimately resolved by 2019. Construction still stalled with Uzbekistan receiving more funds for the project up through 2020. On December 15th, 2021, the commencement ceremony for the start of construction occurred.
Sources & References
- CDB loan for Cement Factory in Uzbekistan
- Turnkey project on construction of 500-700 TPD cement factory in Samarkand region
- A new cement plant will be built in Samarkand region
- Kattakurgan to produce cement
- Commencement Ceremony of Cement Production Line in Uzbekistan 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
National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)
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