Project ID: 16295

China Development Bank pledges to finance South African chrome plant expansion (Linked to Project ID#16303)

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This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.

Summary

Funding agency [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Recipient

South Africa

Sector

Industry, mining, construction (Code: 320)

Flow type

Loan

Concessional

Vague

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2006

Description

In 2006, South African ferro-chrome producer Samancor Chrome signed finance and production deals with China Development Bank (CDB) and state-owned steel and metals trader Sinosteel. These deals reportedly established a strategic partnership in which CDB would finance future expansions of ferro-chrome production in South Africa. It appears that, under the terms of these deals, Samancor Chrome would expand its chrome production and then export it to China. One sources suggests that the total financial commitment would be be less than $100 million. However, it is not clear that a financial commitment was ever finalized. This project is linked to Project ID#16303, the establishment of a joint venture between Samancor and Sinosteel.

Number of official sources

1

Number of unofficial sources

3

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Details

Cofinanced

No

Receiving agencies [Type]

Samancor Chrome [Private Sector]

Implementing agencies [Type]

Sinosteel Corporation [State-owned Company]

Loan type

No Information

Gurarantee provided

No

Insurance provided

No