Completed Mixed AidData Chinese Aid

China Eximbank participates in RMB 540 million loan tranche for Jember Cement Plant Construction Project

¥540K RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	PT Semen Imasco Asiatic Raya (印尼任抹红狮水泥有限公司)
Country	Indonesia
Start Date	Jan 01, 2020
End Date	Feb 10, 2027
Duration	2,597 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`96340`

Grant Description

China Eximbank contributions to 540 million CNY syndicated loan tranche for Jember Cement Plant Construction Project In 2020, China Eximbank signed an RMB 540 million syndicated loan agreement with PT Semen Imasco Asiatic Raya (印尼任抹红狮水泥有限公司) — a wholly-owned special purpose vehicle and joint venture of Hongshi Holding Group — for the Jember Cement Plant Construction Project.

The purpose of the IDR 5 trillion ($336.9 million) project was to construct an 8,000 tons-per-day (tpd) cement plant — also known as a clinker cement production line or dry-process production facility — in Puger Wetan village, Jember County, and East Java Province. The factory was to be supplied by a 100 metric ton limestone deposit.

The project also involved the installation of a 12MW waste heat recovery system. An official commissioning ceremony took place on May 8, 2020. However, the cement plant was not fully operational until August 2020.

📋 Staff Comments

The Chinese project title is 印尼任抹红狮水泥项目 or 印尼任抹红狮水泥有限公司 · 印尼东加里曼丹项目 or 印尼任抹红狮日产8000吨水泥项目.
For the time being, AidData assumes that all members of the loan syndicate are Chinese state-owned banks. This issue warrants further investigation.
A cooperation agreement for the Jember Cement Plant Construction Project was signed (http://www.cbminfo.com/mobile/_470515/_1577016/6675744/index.html) on June 8, 2017. However, the parties to the agreement are unknown. This issue warrants further investigation.

📚 Sources & References

印尼任抹红狮8000t/d熟料水泥生产线点火投产！
夏晶晶
夏晶晶
Hongshi’s Employees Arrive in Indonesia
Heboh Izin Pabrik Semen Baru di Ibu Kota Baru
Ini Faktanya!
Rotary Kilns
红狮控股等在印尼东加里曼丹水泥生产线项目经国家发展改革委备案
浙江省领导见证印尼任抹红狮水泥项目签约
印尼任抹红狮日产8000吨熟料水泥生产线点火投产
中国进出口银行浙江省分行荣获浙江银行业2020年度银团贷款业务最佳创新奖
中国进出口银行浙江省分行获浙江银行业2020年度银团贷款业务最佳创新奖
PT Semen Imasco Asiatic
ASI welcomes new factories in eastern Indonesia only, 2020新投产熟料生产线已达18条！红狮集团居首！ 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.