Project ID: 32053

China Eximbank provides $27.45 million preferential buyer’s credit for Phnom Penh Port New Container Terminal Construction Project

Commitment amount

$ 33179900.17

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Cambodia

Sector

Transport and storage (Code: 210)

Flow type

Export Buyer's Credit

Concessional

Yes

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (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

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2010

Implementation

2011

2011-06-20

Planned start

2011-03-09

Actual start

Completion

2013

2013-01-22

Planned

2013-01-22

Actual

Geography

Description

On November 4, 2010, China Eximbank and the Government of Cambodia signed a $27,452,416 preferential buyer’s credit (PBC) agreement for the Phnom Penh Port New Container Terminal Construction Project. The borrowing terms of the PBC were as follows: a 20-year maturity, a 7-year grace period, and a 2% interest rate. The proceeds of the PBC were used to partially finance an EPC contract with Shanghai Construction Group.The purpose of the project was to construct a new container terminal on the Mekong River in Kien Svay district (Khmer: ស្រុកកៀនស្វាយ) within Kandal province, about 21 kilometers south of the city of Phnom Penh. The terminal, which is connected to National Highway No. 1 (NR1), is 300 meters long and 22 meters wide. It has two berths for 5000-ton freighters. It was designed to deal with the surge of cargo received by the country’s main port in Phnom Penh, and handle 150,000 TEUs per year in the first stage of development (see the report published by MPWT).Construction was expected to start on June 20, 2011, and end on January 22, 2013. However, construction actually began on March 9, 2011. The terminal began operations on January 1, 2013, and an official inauguration ceremony for the new terminal was held on January 22, 2013.

Additional details

The Chinese project title is 金边港集装箱码头 or 柬埔寨金边港新建集装箱码头项目. The Khmer project title is ចំណតកំពង់ផែ កុងទីន័រថ្មី. The PBC agreement for the project was one out of 14 agreements signed by the Chinese Government and the Government of Cambodia on December 21, 2009.

Number of official sources

12

Number of unofficial sources

3

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Cambodia [Government Agency]

Implementing agencies [Type]

Shanghai Construction Group General Co. [State-owned Company]

Loan type

Concessional

Maturity

20 years

Interest rate

2.0%

Grace period

7 years

Grant element

56.00770973%

Gurarantee provided

No

Insurance provided

No