China Eximbank provides $32 million preferential buyer's credit for Wattay International Airport Upgrading Project

In 2011, China Eximbank and the Government of Laos signed a preferential buyer’s credit (PBC) agreement for the Wattay International Airport Upgrading Project. The proceeds of the PBC were to be used by the borrower to partially finance a $37.68 million commercial (EPC) contract between the Ministry of Public Works and Transport of Laos and China CAMC Engineering Co Ltd. (CAMCE), which was signed on July 13, 2011. The precise face value of the PBC is unknown. However, since China Eximbank PBCs typically finance 85% of the total cost of a commercial (EPC) contract, AidData assumes that the face value of the PBC was $32.028 million (85% of $37.68 million). This project involved an expansion of the existing apron and runway at the Wattay International Airport, which is located 3 km outside the city of Vientiane. It also involved improvements to the navigation lights system and drainage systems as well as the construction of nearby roads and an office building for the Civil Aviation Authority and Directorate of Airport Management. The project was meant to be completed in advance of the 9th ASEM Summit. CAMCE was the EPC contractor responsible for implementation. Construction started in December 2011 and ended on May 21, 2012. A completion ceremony was held on October 9, 2012. A project warranty period expired and a final acceptance certificate (FAC) was issued on November 11, 2013. China Eximbank conducted an on-site project inspection on March 22, 2014.

Additional details

The Chinese project title is 席万象瓦岱国际机场改扩建项目.

Number of official sources

10

Number of total sources

15