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Chinese Government provides $491.3 million loan for 2x225 MW Rudbar Lorestan Dam & Hydropower Plant Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | China Gezhouba Group Company Ltd. (CGGC) |
| Country | Iran |
| Start Date | Jan 01, 2011 |
| End Date | Apr 17, 2033 |
| Duration | 8,142 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 85270 |
Grant Description
Chinese Government provides $491.3 million loan for 2x225 MW Rudbar Lorestan Dam & Hydropower Plant Project In 2011, Iran Water and Power Resources Development Company (IWPCO) — an Iranian state-owned enterprise — signed an EPC plus Financing (EPC+F) contract worth approximately $578 million (RMB 4 billion) with China Gezhouba Group Company Limited.
The Chinese Government subsequently issued a loan to the EPC contractor (China Gezhouba Group Company Limited) to finance approximately 85% of the cost of the EPC (commercial) contract.
Under most EPC+F contractual arrangements in Iran, a loan is extended to the EPC contractor but with a sovereign guarantee from the Iranian Government.
The purpose of this project was to construct a dam that has two power production units — with two 225-MW vertical Francis turbine-generator units — on the Rudbar River in the Zagros Mountains, and nearly 100 kilometers south of Aligoodarz City in Lorestan Province.
It involved the construction of a 153-meter-high clay core rock-filled dam, an open spillway and two 3.4-kilometer-long water diversion systems. Construction began in April 2011 and the dam was completed on September 15, 2016.
The hydroelectric power plant was connected to the national grid on May 25, 2017 and it became operational on May 31, 2017.
Staff Comments
- The Chinese project title is 鲁德巴水电站项目 or Rudbar水电站.
- In 2017, a Vice President of China Eximbank reported (see 'China’s EXIM Inks $1.5 bn High-Speed Rail Deal with Iran') that it had financed 26 electricity, petrochemical, oil and gas and nonferrous metal projects in Iran worth $9 billion. Therefore, China Eximbank is most likely the funding agency of this project. However, the source of project financing merits further investigation. Multiple sources incorrectly identify Sinosure as the source of project financing.
- Given that the creditor agreed to provide a loan to finance 85% of the cost of the commercial contract, AidData assumes that the loan was issued in the form of a buyer's credit. This issue warrants further investigation.
Sources & References
- Rudbar Lorestan Dam and Hydropower Plant
- Rudbar Lorestan Project
- Iran
- S Korea reach new water agreement
- Hydropower Dam Opens in Lorestan
- 庞森大使考察鲁德巴水电站项目
- 中国水电 海外崛起--中国水电占据海外市场半壁江山
- Global Offering, 450-MW Rudbar Lorestan hydroelectric plant opens in Iran
- Is China's Belt and Road working? A progress report from eight countries, جزئیات پروژه __ رودبار لرستان
- China’s EXIM Inks $1.5 bn High-Speed Rail Deal with Iran
- Iran Rudbar Lorestan hydropower dam undertaken by CGGC completed
- Sepsad - Rudbar Lorestan Dam & Hydro-Power Plant
- Adel.Aliaskari-ENG
- 伊朗Rudbar水电站首台机组启动
- 中国电建中南院设计的伊朗鲁德巴水电站投产发电_中国电工网_手机版
- 伊朗Rudbar水电站首台机启动 - 北极星水力发电网
- 中国承建伊朗大型水电项目并网投产-新华网
- 中国电建中南院设计的伊朗鲁德巴水电站投产发电 - 广东省水力发电工程学会 - 手机版, “一带一路”伊朗项目之鲁德巴水电站平稳运行一周年 - 国际在线移动版
- 伊朗鲁德巴水电站投产发电 - 投资动态 - 湖北省人民政府门户网站
- Technical Information - Rudbar-Lorestan Project
- Rudbar-Lorestan Project Base Information
- Home - Rudbar Lorestan Project
- EPCF Management
- 中国驻伊朗大使刘振堂出席伊朗RUDBAR大坝及水电站项目签约仪式 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
China Gezhouba Group Company Ltd. (CGGC)
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