Completed Mixed AidData Chinese Aid

Bank of China provides $4.8 million buyer’s credit loan for Farsnov Cement Plant Construction Project

$4.8M USD

Funder	Bank of China (BOC)
Recipient Organization	Farsnov Cement Company
Country	Iran
Start Date	Jan 01, 2005
End Date	May 06, 2029
Duration	8,891 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`85276`

Grant Description

Bank of China provides $4.8 million buyer’s credit loan for Farsnov Cement Plant Construction Project Bank of China issued a buyer’s credit loan worth $4,802,164.47 for the Farsnov Cement Plant Construction Project in Iran.

📋 Loan / Grant Terms

💰 Loan Amountcarried a 5 year maturity

📅 Maturity5 years

The proceeds of the loan were used to finance a commercial contract with Sinoma Chengdu Design and Research Institute of Building Material Industry (CDI).

The purpose of the project was to construct a cement plant for Farsnov Cement Co., Ltd (شركت سیمان فارس نو ) — capable of producing 3,000 tons of cement per day — that is located 80 km south of the city of Shiraz in Fars Province. CDI was the contractor responsible for project implementation.

The cement plant was completed and put into production on or around April 24, 2006.

📋 Staff Comments

This project is also known as the FARS NOV Cement Plant Project. The Chinese project title is 伊朗FARS NOV水泥厂项目. The Persian project title is کارخانه سیمان فارس.
The borrower of the loan may have been Farsnov Cement Co., Ltd, but this issue requires further investigation.
The loan commitment year is uncertain. It is currently set to 2005 because that is the year when Bank of China disclosed the loan.

📚 Sources & References

通用技术集团伊朗FARS NOV水泥厂项目建成投产－国务院国有资产监督管理委员会
银行信贷课件ppt素材 - baidu
Farsnov Cement Co_, (r) china. energy conservation and ghg emissions reduction in chinese tves. phase ii - cement subsector survey. final report (23053.en)
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中国银行出口买方卖方信贷业务的特点和优势 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.