Completed Mixed AidData Chinese Aid

China Eximbank provides $31 million loan for Sokon Car Factory Project

$31M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	PT. Sokonindo Automobile
Country	Indonesia
Start Date	Jan 01, 2017
End Date	Jul 02, 2031
Duration	5,295 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`96341`

Grant Description

China Eximbank provides $31 million loan for Sokon Car Factory Project In 2017, China Eximbank and PT.

Sokonindo Automobile — a special purpose vehicle and joint venture between Sokon Group (Hong Kong) Company Limited and PT Kaisar Motorindo Industri — signed a $31 million loan agreement for the Sokon Car Factory Project. The loan carries a 7-year maturity. Its other borrowing terms are unknown.

The purpose of the $150 million project was to construct an automobile manufacturing plant in a 20 hectare area within an industrial zone (known as Kawasan Industri Modern) in Serang Regency and Banten Province that is capable of producing the Dongfeng Sokon (DFSK). The facility’s production activities include stamping, welding, painting and assembly.

It was designed to have production a capacity of 50,000 units per year by 2019. Construction began in 2015. The plant’s opening ceremony took place on November 28, 2017.

📋 Staff Comments

1. The Chinese project title is 小康集团印尼工厂汽车项目 or 小康印尼乘用化改造项目.

📚 Sources & References

进出口银行纪念改革开放40周年 · 改革开放大潮中的重庆分行
改革开放40周年_中国进出口银行
重庆小康工业集团股份有限公司第三届董事会第十一次会议决议公告
关于重庆小康工业集团股份有限公司《中国证监会行政许可项目审查一次反馈意见通知书》的回复
关于重庆小康工业集团股份有限公司非公开发行A股股票之申请文件反馈意见的回复
About Sokon
China's Sokon group launches its Indonesian plant operation
Dongfeng Seres 5 makes its debut at IIMS 2022 – EV crossover with range extender; up to 1,000 km range 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.