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[China-Venezuela Joint Fund] CBD funds USD 275 million Margarita Island Transmission Line (linked to Record ID#58677)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Banco de Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund |
| Country | Venezuela |
| Start Date | Mar 01, 2012 |
| End Date | Oct 31, 2029 |
| Duration | 6,453 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 94034 |
Grant Description
[China-Venezuela Joint Fund] CBD funds USD 275 million Margarita Island Transmission Line In March 2012, plans were announced to build a transmission cable from Chacopata to Margarita Island. On June 30, 2012, Corpoelec signed a contract with ZTE for a cable with a 400 MW capacity. The cable also included fiber optic cables for information transmission.
The cable is composed of four conductors, and is 160 km long. The investment was USD 275 million.
It was funded by the China-Venezuela Joint Fund (see Record ID#58677) and investments from FONDEN, a Venezuelan state-owned fund. The amount from the China fund is unclear. The project was inaugurated on December 5, 2014. It was capable of carrying 80 MW. Successful maintenance was done on the cable in August 2022 to improve internet on the island.
In November 2022, there were problems with a plant on the island, so all of the power was supplied through the cable, which was only capable of meeting 50% of the demand.
Staff Comments
1. No transaction amount is included because it is already captured in project ID#58677.
Sources & References
- Presupuestos y Memoria y Cuenta 2010-2013
- Entre Corpoelec y la empresa china ZTE de Venezuela
- Firmado contrato de suministro para el nuevo cable submarino de Margarit
- Cable submarino Chacopata - Margarita: cinco años transmitiendo energía a los neoespartanos
- Inauguran nuevo cable submarino en Margarita
- Supervisan labores de mantenimiento del cable submarino en Margarita
- BajoLaLupa: A Margarita solo la alimenta el cable submarino de tierra firme 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
Banco de Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund
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