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[China-Venezuela Joint Fund] CDB funds USD 133 million Petrocasas Ventanas I factory (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 | Oct 19, 2008 |
| End Date | Jul 01, 2028 |
| Duration | 7,195 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 94065 |
Grant Description
[China-Venezuela Joint Fund] CDB funds USD 133 million Petrocasas Ventanas I factory On October 19, 2008, work began on the Petrocasas Ventanas I factory. The project cost a total of USD 133,970,000 or VEF 21,265,079.35. The project is located in Ciudad Alianza, Guacara parish, Guacara municipality, Carabobo state.
It was financed by FONDEN, a Venezuelan state-owned development fund, and the China-Venezuela Joint Fund (see Record ID#58677). The factory was inaugurated on August 6, 2012.
The purpose of the factory was to produce doors and windows for petrocasas, or "oil houses", which are mass-produced pre-fabricated houses for Venezuelan families.
This project was implemented by the Ministry of People's Power for Petroleum and Mining and PEQUIVEN, the Venezuelan state-owned petrochemicals company.
In August 2012, Venezuelan opposition presidential candidate Henrique Capriles Radonski claimed that the factory inaugurated on August 6, 2012, was the same as a similar factory constructed in 2007. PEQUIVEN denied the charges.
Staff Comments
1. No transaction amount is recorded because it is already captured in project ID#58677.
Sources & References
- Presupuestos y Memoria y Cuenta 2010-2013
- Listado de Noticias Mes: Octubre
- Presidente recorre fábrica de Petrocasa Ventanas I en Guacara
- Pequiven desmiente declaraciones de Capriles sobre Fábrica de Petrocasa Ventanas I 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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