China Development Bank pledges $100 million loan for Feruka Paper and Board Factory Construction Project
Pledged amount
$ 152458592.19490507
Adjusted pledged amount
$ 152458592.19490507
Constant 2021 USD
Not recommended for aggregates
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
Zimbabwe
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
On 30 January, 2008, a Chinese state-owned company, Shandong Taishan Paper Company, announced plans for the construction of a $100 million paper manufacturing plant called the Feruka Paper and Board Factory. The factory, located in Manicaland Province, would recycle the large amounts of available sawdust between the towns of Chimanimani and Nyanga for the production of paper. China Development Bank and the Infrastructure Development Bank of Zimbabwe reportedly agreed in principle to finance the project. Construction was slated to begin in February 2008; however, there is no evidence that this project ever moved forward. In January 2013, the Shandong Taishan Paper Company went bankrupt.
Number of official sources
0
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Zimbabwe [Government Agency]
Implementing agencies [Type]
Shandong Taishan Paper Co., Ltd. [Private Sector]