Active Development AidData Chinese Aid

China Eximbank provides RMB 80 million government concessional loan for Al Furat Cotton Mill Equipment Modernization Project (Linked to Record ID#65099)

¥80M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Syria
Country	Syrian Arab Republic
Start Date	Jan 01, 2006
End Date	Sep 07, 2033
Duration	10,111 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`85250`

Grant Description

China Eximbank provides RMB 80 million government concessional loan for Al Furat Cotton Mill Equipment Modernization Project In June 2004, the Chinese Government and the Government of Syria signed a preferential loan framework agreement.

Then, according to a dataset of foreign-financed projects that the Syrian Planning Commission (SPC) provided to UNDP Syria in May 2011, the China Eximbank provided an RMB 80 million ($11,776,000) government concessional loan (GCL) in 2006.

📋 Loan / Grant Terms

💰 Loan Amountcarried a 10 year maturity and a 3 year grace period

📅 Maturity10 years

⏳ Grace Period3 years

Its interest rate is unknown.

The borrower was to use the loan proceeds to finance a commercial contract with China Textile Industrial Corporation for Foreign Economic and Technical Cooperation (CTEXIC).

The purpose of this project was to modernize the equipment of a cotton mill called Al Furat Spinning and Weaving Company (شركة الفرات للغزل والنسيج), which is located on the outskirts of the city of Deir Ez Zour (دير الزور). Its exact locational coordinates are 35°23'42”N, 40°14'26”E.

CTEXIC was the contractor responsible for implementation.

The originally expected project implementation start date was January 1, 2006 and the originally expected project completion date was December 31, 2011. On July 9, 2007, the President of CTEXIC met with Dr. Fouad Al Jouni, Syrian Industrial Minister. During that meeting, the project was described as ‘ongoing’.

However, a project commencement order was not issued until July 17, 2007. Then, during the second half of 2008, a set of new weaving machines were successfully delivered.

📋 Staff Comments

This project may also be known as the Renewing Furat Spinning Mill Project in Deir Ez-Zour, the Al Furat Spinning Company Modernization Project, the Renewal of Syria Deir Ez Zour Elfurat Spinning Company Project, or the Equipment Renewal in Mill No.1 of Syria Deir Ez Zour Elfurat Spinning Company Project. The Arabic project title is مشروع تجديد معمل الفرات للغزل بدير الزور. The Chinese project title is 叙德尔祖尔棉纺厂设 or 叙利亚杰布莱新棉纺厂项目 or 叙德尔祖尔棉纺厂设备更新改造项目 or 叙利亚德尔祖尔厂棉纺设备更新改造项目 or 棉纺设备更新改造项目.
According to written correspondence between Hala Imad (from the Government of Syria’s State Planning Commission) and WANG Hong (from the Concessional Loan Department of China Eximbank) on June 21, 2010, China Eximbank issued two separate GCLs for the Al Furat Spinning and Weaving Company: the Renewal of Syria Deir Ez Zour Elfurat Spinning Company Project and the Equipment Renewal in Mill No.1 of Syria Deir Ez Zour Elfurat Spinning Company Project. However, it is unclear which project was supported by the 2002 GCL (captured in Project ID#65099) and which project was supported by the 2006 GCL (captured in Project ID#85250). This issue merits further investigation.

📚 Sources & References

شركة الفرات للغزل: انفاق 24 مليون ليرة على عقد لم ينجز بعد
青岛宏大又一供叙利亚清梳联项目完成初步移交
叙利亚杰布莱新棉纺厂项目
President He Fengxian meets Syrian Industrial Minister, آلات حديثة لشركة 'الفرات' للغزل والنسيج
Re: Projet Project Progress Report for Renewal of Syria Deir Ez Zour Elfurat Spinning Company Project..., 228237_Data_Nader_Projects v1.xlsx
Chinese Government Concessional Loan Projects
Deir ez-Zor Cotton Ginnery extension area
Deir ez-Zor Cotton Terminal, دليل شركاء التعاون الدولي
Syria Files FW: Projects
中叙双边关系简况 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 Syria

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 Grant