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Overview

China Construction Bank 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 (planned)
Jun 30, 2015

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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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 Commercial Banks

  • China Construction Bank Corporation (CCB)

Cofinancing agencies

State-owned Policy Banks

  • China Development Bank (CDB)

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 desecription

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 (aluminum) 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 CCB’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.