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China Eximbank provide $89.5 million preferential buyer’s credit for Shargun Coal Mine Modernization Project (Linked to Record ID#40326)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Uzbekistan |
| Country | Uzbekistan |
| Start Date | Jan 01, 2017 |
| End Date | Apr 05, 2033 |
| Duration | 5,938 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 72686 |
Grant Description
China Eximbank provide $89.5 million preferential buyer’s credit for Shargun Coal Mine Modernization Project In 2017, China Eximbank and China Development Bank together provided $105,510,000 in debt financing for the Shargun Coal Mine Modernization Project.
China Eximbank provided a $89.5 million preferential buyer’s credit (PBC) loan and China Development Bank provided a $16,010,000 loan (captured via Record ID#40326).
The Government of Uzbekistan provided a sovereign guarantee for this loan.
The Shargun Coal Mine Modernization Project — also known as the “Modernization of JSC “Shargunkumir” Project or 了沙尔贡煤矿现代化 — seeks to replace the existing technologies and production at Baisun and Shargun coal deposits and bring project capacity to 900 thousand tons of coal per year.
It also involves the modernization of the system of coal transportation.
China Coal Technology & Engineering Group (CCTEG) is the contractor responsible for project implementation and its work is being overseen by Uzbekcoal JSC.
Through its contract with Uzbekcoal JSC, CCTEG is responsible for delivering two mechanized complexes with production capacity of 450,000 tons per year each on a turnkey basis. China Railway Tunnel Group Co., Ltd. is also involved in project implementation.
As of September 12, 2017, China Coal Technology & Engineering Group Corp., and China Railway Tunnel Group Co., Ltd., began the preparatory work for this project. Project implementation officially began on May 23, 2018. The project was expected to reached completion in 2020.
The project implementation had been delayed due to the rise of COVID-19 and flight suspension of various construction workers. The planned project duration was projected to be 38 months. The renovation project is a consortium formed by the China Railway Tunnel and the China Coal and Science Industry.
Du Yaobo, general manager of Nanjing Design Institute delivered a speech before the launching ceremony. From August 10-11, the three machine ground joint commissioning of the project's working face was conducted. On January 11th, 2024, it was reported that the mine had been put into operation.
Sources & References
- Proposals on realization of government stake in JSC “Shargunkumir” to strategic investors.
- China Coal will invest $88 million for modernization of coal mining in Uzbekistan
- 中国进出口银行
- BRI in Central Asia: Mineral and Petroleum Exploration
- Extraction and Processing Projects
- Development programs and prospective plans
- Chinese consortium starts modernizing coal mining in Uzbekistan
- Uzbekistan Bidding Network
- Chairman Hu Xiaolian of the Export-Import Bank held talks with the President of Uzbekistan
- The First Modern Well Coal Mine in Uzbekistan Officially Started By CCTEG
- Shavkat Mirziyoyev: 'Our wealth should serve for the good of the people'
- 口行新闻_中国进出口银行
- Construction of the Sharkun coal mine project undertaken by Chinese enterprises in Uzbekistan has started
- Shavkat Mirziyoyev: 'Our wealth should serve for the benefit of the people'
- China Eximbank for Shargun Coal Mine Modernization Project
- China Coal will invest $88 million for modernization of coal mining in Uzbekistan
- Ambassador Jiang Yan attended the groundbreaking ceremony of the Sargon Coal Mine Reform Project
- ENVIRONMENTAL PERFORMANCE REVIEWS
- Chinese company starts construction of Uzbekistan's Sargon coal mine
- The three-machine ground joint commissioning of the modernization project of Uzbekistan's Shalgong Coal Mine was a complete success
- Newsletter: Epidemic prevention and production are both correct - Chinese enterprises undertake the construction of Uzbekistan coal mine modernization project to complete the stage tasks as scheduled
- China Coal company to invest $88 mln in modernization of coal mining in Uzbekistan
- China Coal to invest US$88m into modernization of coal mining in Uzbekistan
- Chinese company invests 88m dollars to upgrade coal production in Uzbek south
- China Coal will invest $88 million for modernization of coal mining in Uzbekistan
- Chinese consortium starts modernizing coal mining in Uzbekistan
- Projects implemented at the expense of loans guaranteed by the state and at the expense of FRDU
- 对外投资合作国别指南 乌兹别克斯坦
- China Database
- Uzbekistan's first modern coal mine under construction by Chinese company
- 中企承建乌兹别克斯坦煤矿现代化改造项目如期完成阶段任务
- Uzbekistan's Shargun Coal Mine Renovation Project Participated by Chinese Enterprises Puts into Operation 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 Uzbekistan
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