Chinese Government provides loan for Kyaukse Cement Factory Construction Project

In June 2000, China CAMC Engineering Corp signed a $16.5 million contract to build a cement factory with a 500-ton capacity in Kyaukse, the hometown of Myanmar's then-head of state. This contract was financed with a loan from the Chinese Government. However, the borrowing institution and the borrowing terms of the loan are unknown. Myanmar's Ministry of Finance issued a sovereign guarantee in support of the loan. The borrower also purchased credit insurance from Sinosure. Construction began in March 2001. Then, on October 29, 2002, initial crude production began. On January 9, 2003, all testing was finished. A project completion ceremony was held on January 28, 2003.

Additional details

1. The Chinese project title is 郊塞水泥. 2. The borrower was mostly likely a state-owned enterprise (SOE) in Myanmar. This issue requires further investigation.

Number of official sources

2

Number of unofficial sources

2