CDB provides USD 24 million loan for Bangkok Nong Khaem Municipal Solid Waste Incineration Power Plant

CDB provides USD 24 million loan for Bangkok Nong Khaem Municipal Solid Waste Incineration Power Plant On July 9, 2012, C&G Environmental Protection (Thailand) Company Limited — a special purpose vehicle (project company) and wholly-owned subsidiary of China’s State Development & Investment Corp., Ltd. (SDIC) — signed a build-operate-transfer (BOT) agreement with the Bangkok Metropolitan Administration for the concessionary right to invest, construct, operate and maintain a 500-ton per day MSW incineration power plant in Nong Khaem District, Bangkok, Thailand.

The BOT concession for the municipal solid waste (MSW) project is for an initial period of twenty years with two options to renew for a five year term each.

The estimated expenditure required to complete the MSW incineration power plant in Bangkok is approximately THB 914 million (equivalent to approximately $35.5 million).

As of April 7, 2014, the project sponsor had made equity injections into the project company worth THB 334.9 million (or approximately $13.0 million).

Then, on August 18, 2014, C&G Environmental Protection (Thailand) Company Limited signed a $24 million term loan facility agreement with China Development Bank Corporation to finance equipment cost for the Bangkok Nong Khaem Municipal Solid Waste Incineration Power Plant Project.

As of September 30, 2014, the CDB loan had achieved a 64.5% disbursement rate (with $15.5 million of the $24 million being drawn down by the borrower).

The plant was under construction as of 2014 and originally scheduled for completion by the end of the first half of 2015. It ultimately went into operation in May 2016.