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Overview

CDB contributes to $30 million syndicated buyer’s credit for Phase 2 of DET-AL Ganja Aluminum Plant Construction Project

Commitments (Constant USD, 2023)$15,509,569
Commitment Year•2013Country of Activity•AzerbaijanDirect Recipient Country of Incorporation•AzerbaijanSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2013
Start (actual)
Sep 1, 2013
End (actual)
Jun 30, 2015

Geospatial footprint

Map overview

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The purpose of Phase 2 as to increase the capacity of an aluminium smelter complex in Azerbaijan’s Ganja district from 60,000 tons per year to 160,000 tons per year. More detailed locational information can be found at https://www.openstreetmap.org/way/276555125.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Cofinancing agencies

State-owned Commercial Banks

  • China Construction Bank Corporation (CCB)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • DET-AL Aluminium LLC

Implementing agencies

State-owned companies

  • Sichuan Machinery and Equipment Import and Export Co Ltd

Loan description

In 2013, China Construction Bank and China Development Bank contribute to USD 30 million syndicated buyer’s credit for Phase 2 of DET-AL Ganja Aluminum Plant Construction Project, Azerbaijan

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2013, DET-AL Aluminium LLC (DET.AL Aluminium LLC) — a special purpose vehicle and wholly-owned subsidiary of Det.AL Holding — signed a $30 million syndicated buyer’s credit facility agreement with China Development Bank (CDB) and China Construction Bank (CCB) for Phase 2 of the DET-AL Ganja Aluminum Plant Construction Project. The borrowing terms of the loan are unknown. However, it is known that the borrower was expected to use the loan proceeds to partially finance a commercial (EPC) contract with Sichuan Machinery & Equipment Import & Export Co. Ltd. (四川省机械进出口有限公司). The purpose of Phase 2 is to increase the capacity of an aluminium smelter complex in Azerbaijan’s Ganja district from 60,000 tons per year to 160,000 tons per year. Sichuan Machinery & Equipment Import & Export Co. Ltd. (四川省机械进出口有限公司) was the EPC contractor responsible for implementation. Phase 2 trial operations commenced in September 2013 and Phase 2 was originally scheduled to reach completion by mid-2015.

Staff comments

1. The Chinese project title is 电解铝二期项目 or 阿塞拜疆电解铝项目 or 甘加电解铝项目. 2. Det.AL Holding is a company that provides systems and advice on aluminium cast house technology to the aluminium industry worldwide. 3. The size of CDB’s contribution to the $30 million syndicated loan is unknown. For the time being, AidData assumes equal contributions ($15 million) across the two known members of the syndicate. This issue warrants further investigation. 4. Phase 1 commenced on March 3, 2008, and concluded in October 2011. Sichuan Machinery & Equipment Import & Export Co. Ltd. was also involved in the implementation of Phase 1.