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Overview

Bank of China provides RMB 185 million loan for Phase 1 of China-Kazakhstan (Lianyungang) Logistics Cooperation Base Project

Commitments (Constant USD, 2023)$30,792,356
Commitment Year•2014Country of Activity•KazakhstanDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2014
End (actual)
May 19, 2014

Geospatial footprint

Map overview

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The purpose of the project Phase 1 was to establish a logistics base in the Khorgos-Eastern Gate special economic zone. More detailed locational information can be found at https://www.openstreetmap.org/way/558486105.

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 ownershipAt least 25% Chinese ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

State-owned Commercial Banks

  • Bank of Jiangsu

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Lianyungang China-Kazakhstan International Logistics Co. Ltd. (连云港中哈国际物流有限公司)

Loan description

Bank of China provides RMB 185 million loan for Phase 1 of China-Kazakhstan (Lianyungang) Logistics Cooperation Base Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2014, Lianyungang China-Kazakhstan International Logistics Co. Ltd. (连云港中哈国际物流有限公司) — a special purpose vehicle and joint venture between China’s Lianyungang Port Authority [51% equity stake] and Kazakhstan’s KTZ Express (the logistics subsidiary of Kazakhstan Railways) [49% equity stake] — was created to finance, design, implement, and operate the China-Kazakhstan (Lianyungang) Logistics Cooperation Base. Three loans were subsequently issued to Lianyungang China-Kazakhstan International Logistics Co. Ltd.: an RMB 185 million loan from Bank of China for Phase 1 of the China-Kazakhstan (Lianyungang) Logistics Cooperation Base Project, an RMB 420 million loan from Bank of Jiangsu for Phase 1 of the China-Kazakhstan (Lianyungang) Logistics Cooperation Base Project, and an RMB 200 million working capital loan from Bank of Jiangsu. The purpose of Phase 1 was to establish a logistics base in the Khorgos-Eastern Gate special economic zone. Phase 1 was officially completed and put into operation on May 19, 2014. The first freight train departed from Lianyungang to Kazakhstan's Almaty on February 25, 2015, with the China-Kazakhstan (Lianyungang) Logistics Cooperation Base play a key role in connecting East Asia with Central Asia and Europe.

Staff comments

1. The Chinese project title is 连云港中哈国际物流基地一期项目. 2. KTZ is the national, state-owned railway company of Kazakhstan. 3. There is some evidence that ICBC may have also supported this project (http://www.cbimc.cn/content/2023-10/19/content_497571.html). This issue requires further investigation.