China Eximbank provides $86.1 million concessional loan for National Heroes (or Lusaka National) Stadium Construction Project (Linked to Project ID#85186)

In July 2010, China Eximbank and the Government of Zambia signed an $86.1 million concessional loan agreement for the National Heroes (or Lusaka National) Stadium Construction Project. The loan reportedly carried a 10 year grace period and a 20 year maturity. Its interest rate is unknown. The project involved the construction of the National Heroes Stadium and the reconstruction of the old Independence Stadium in Lusaka. National Heroes Stadium is a multi-purpose facility that can accommodate more than 50,009 spectators. It has a football pitch, a running track, two gymnasiums, four dressing rooms, four VIP lounges, shops, booths, car parks, media rooms, conference rooms, meeting rooms, a police station, a medical room, an anti doping center, massage rooms, and offices. The Zambia Electricity Supply Corporation (ZESCO) supplied power to the site. Shanghai Construction Group was the contractor responsible for project implementation. The contract specified that works would commence on July 6, 2011 and end on January 6, 2014. A formal groundbreaking ceremony took place on January 10, 2011. Construction began on July 6, 2011 and ended on October 30, 2013. It was officially handed over to the Government of Zambia's Ministry of Youth and Sport on June 2, 2014.

Additional details

1. This project is also known as the AKA Lusaka National Stadium Construction Project, the Lusaka National Stadium Construction Project, the Lusaka Stadium Project, and the National Stadium Project. The Chinese project title is 赞比亚卢萨卡体育场 or 卢萨卡体育场项目. 2. Another $8 million China Eximbank concessional loan was issued for the Independence Stadium Grandstand Rehabilitation Project (as captured via Project #85186).

Number of official sources

15

Number of total sources

29