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China Eximbank provides RMB 439.03 million loan for Huaxin Cement Plant Construction Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Huaxin Cement Narayani Pvt. Ltd (华新水泥纳拉亚尼有限公司) |
| Country | Nepal |
| Start Date | Jan 01, 2019 |
| End Date | May 21, 2026 |
| Duration | 2,697 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 95767 |
Grant Description
China Eximbank provides RMB 439.03 million loan for Huaxin Cement Plant Construction Project In 2019, China Eximbank and Huaxin Cement Narayani Pvt.
Ltd (华新水泥纳拉亚尼有限公司 or 华新纳拉亚尼投资（上海）有限公司) — a special purpose vehicle and joint venture of Huaxin Central Asia Investment (Wuhan) Co., Ltd. and Vaidya's Organization of Industries & Trading Houses (VOITH) — signed an RMB 439,030,000 loan agreement for the Huaxin Cement Plant Construction Project.
However, it is known that Huaxin Cement Co., Ltd. issued a loan repayment guarantee.
The purpose of the project was to construct a cement factory (clinker production line) — with production capacity of 3,000 tons per day and 1 million tons per year — in Benighat Rorang Rural Municipality in Dhading District. Construction began in March 2019.
Nepal's Speaker of House of Representatives Krishna Bahadur Mahara and Vice President of China's Huaxin Cement Xu Gang also attended the project’s foundation stone laying ceremony on March 1, 2019.
The project faced delays and implementation challenges related to floods, disputes over land acquisition, and the COVID-19 pandemic. However, the cement plant was officially completed and commissioned on January 8, 2022. China Eximbank also provided a $7.8 million loan to Huaxin Cement Narayani Pvt.
Ltd in June 2021 for the acquisition of advanced production equipment, environmental protection technology, and management experience. The implementation status of this supplementary project is unknown and requires further investigation.
Staff Comments
- The Chinese project title is 华新水泥尼泊尔直接投资项目.
- China Eximbank has publicly identified itself as a lender to Huaxin Cement Narayani Pvt. Ltd (华新水泥纳拉亚尼有限公司). For the time being, AidData assumes that the RMB 439.03 million loan was issued by China Eximbank. This issue warrants further investigation.
- Huaxin Cement Co., Ltd. obtained an foreign direct investment permit from the Government of Nepal in January 2016, and completed industrial registration in Nepal with a capital of 28 million US dollars in December 2017.
Sources & References
- 进出口银行湖北省分行投放贷款支持企业“走出去”
- 机构动态_中国进出口银行
- Foundation stone laid for 140 mln USD worth of Sino-Nepal joint venture in cement industry
- 中国进出口银行湖北省分行应邀参加上海合作组织民间友好论坛并与企业签署贷款协议
- 华新水泥尼泊尔直接投资项目正式投产
- 孙大使在我援尼公务员医院奠基仪式上致辞
- 华新水泥：2019年年度股东大会会议资料
- 华新水泥股份有限公司
- 华新水泥股份有限公司 关于为子公司提供担保公告
- 中尼合资水泥厂正式开工建设
- 进出口银行湖北省分行投放贷款支持湖北企业“走出去”
- Huaxin Cement Narayani flouting EIA norms: PAC sub-committee 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
Huaxin Cement Narayani Pvt. Ltd (华新水泥纳拉亚尼有限公司)
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