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China Eximbank provides RMB 3.59 billion buyer’s credit loan for 913 MW Lamard Combined Cycle Power Plant Project (Linked to Record ID#85267)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Iran Bank of Industry and Mines |
| Country | Iran |
| Start Date | Jan 01, 2017 |
| End Date | Mar 17, 2030 |
| Duration | 4,823 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 85268 |
Grant Description
China Eximbank provides RMB 3.59 billion buyer’s credit loan for 913 MW Lamard Combined Cycle Power Plant Project In 2017, China Eximbank and Iran’s Bank of Industry and Mine — an Iranian state-owned bank— signed an RMB 3,591,317,330 ($602 million) buyer’s credit loan agreement for the 913MW Lamard Combined Cycle Power Plant Project.
Iran’s Ministry of Economy issued a sovereign guarantee in support of the loan in February 2017.
The purpose of the project is to construct a 913MW combined cycle power plant in the Lamerd Special Economic Zone within the southern province of Fars and supply electricity to the aluminum smelter run by South Aluminum Corporation (SALCO or شرکت آلومینیوم جنوب).
The project also involves the construction of an 11 km electricity transmission line, a 35 kilometer electricity transmission line, a 230kV electricity substation, and a 400kV electricity substation to evacuate power from the power plant to the national grid. The plant itself is located at the 8th km on Lamerd-Khonj road with the city of Lamerd.
The locational coordinates of the plant are 27.335372, 53.157570.
The construction of the plant is being implemented on a Build-Own-Operate (BOO) basis and financed with 85% debt and 15% equity.
Ghadir Electricity & Energy Investment Co. and China National Electric Engineering Co (CNEEC) are the contractors responsible for implementation. By June 2019, the power plant was apparently under construction, including preliminary civil works. Then, in 2020, the first phase of the aluminum smelter launched (with two additional phases slated for 2025).
As of August 2022, the project had achieved a 40% completion rate and the construction of the 11 km electricity transmission line and the electricity substations had reached completion.
The Chinese Government has also provided a loan for the construction of the aluminum smelter run by South Aluminum Corporation (captured in Record ID#85267).
Staff Comments
- This project is also known as 911MW Lamerd Combined Cycle Power Plant Project and the Ghadir Lamerd Power Station Project. The Persian project title is نیروگاه سیکل ترکیبی ۹۱۳ مگاواتی غدیر انرژی لامرد or یروگاه سیکل ترکیبی لامرد.
- The loan commitment year is uncertain. For the time being, AidData treats 2017 as the loan commitment year because it is the year when Iran’s Ministry of Economy disclosed the existence of the loan and issued a sovereign guarantee for it.
- The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.
Sources & References
- 12 طرح از هفت خان تأمین مالیخارجی/ 38 درصد فاینانسها بهنیمهراه رسید+جدول
- Combined Cycle Power Plant, مجوز هیات دولت به وزارت اقتصاد برای صدور ضمانتنامه مربوط بهنیروگاه سیکل ترکیبی لامرد, موافقت با صدور ضمانتنامه اختصاصی برای لازم الاجراء شدن موافقتنامه مالی مربوط به پروژه احداث نیروگاه سیکل ترکیبی لامرد, 12 میلیارد دلار فاینانسهای برجامی در مرحله نهایی جذب
- CNEEC Secures Contract for Iran Lamerd 484MW Gas-fired Combined Cycle Power Plant Project, نیروگاه سیکل ترکیبی - منطقه ویژه اقتصادی لامرد, شرکت سرمایه گذاری برق و انرژی غدیر (سهامی خاص) _ بازدید مدیر عامل منطقه ویژه اقتصادی لامرد از سایت غدیر انرژی لامرد, شرکت سرمایه گذاری برق و انرژی غدیر (سهامی خاص) _ نیروگاه سیکل ترکیبی 913 مگاواتی لامرد
- Ghadir Lamerd power station, گشایش اعتبار اسنادی نیروگاه سیکل ترکیبی ۹۱۳ مگاواتی لامرد
- China's Overseas Development Finance
- Lamerd Combined Cycle Power Plant, عبور 12 طرح از هفت خان تأمین مالی خارجی/ 38 درصد فاینانسها به نیمهراه رسید+جدول, ارائه گزارش بانک مرکزی در خصوص توافقات تأمین مالی با چین در جلسه هیئت
- Dedicated power plant, نسخه چاپی مجوز صدور ضمانت نامه اختصاصي به مبلغ سه ميليارد و پانصد و نود و يك ميليون و سيصد و هفده هزار و سي و سه صدم يوآن چين بين بانك صنعت و معدن و اگزيم بانك چين, نیروگاه سیکل ترکیبی لامرد
- Power Plant Construction Starts in Fars Province, شروع احداث نیروگاه سیکل ترکیبی ۹۱۳ مگاواتی لامرد _ خبرگزاری صدا و سیما, گفتگو_ نیروگاه 913 مگاواتی «لامرد» در آستانه تحول_ دست یاری برق و انرژی «غدیر» به سوی همت مسئولان - شرکت سرمایه گذاری برق و انرژی غدیر, 32 Petchem Projects in 8 Years
- Sabalan Petrochemical Co.
- Sabalan petrochemical plant is the eighth methanol manufacturer in Iran. 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
Iran Bank of Industry and Mines
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