China Eximbank provides $150 million preferential buyer’s credit loan for Unit 2 of the Chashma Nuclear Power Plant Project (linked to #35262)

In March 2003, China and Pakistan signed a memorandum of understanding (MOU) for the construction of a second nuclear power plant (Chashma II) with a 300 MW capacity at Chashma, Pakistan, where a nuclear plant (Chashma I) was already installed.On March 31, 2005, the Government of Pakistan signed a $150 million preferential buyer’s credit (PBC) loan with China Eximbank for Unit 2 of the Chashma Nuclear Power Plant Project (or Unit 2 of CHASNUPP). This loan carried the following terms: 3% interest rate, 20 year maturity, and 7 year grace period. On the same day, the Government of Pakistan signed a government concessional loan (GCL) with China Eximbank worth RMB 1,598,764,499.79 (or approximately $200 million) for Unit 2 of the Chashma Nuclear Power Plant Project (or Unit 2 of CHASNUPP). The terms of the GCL are unknown. China Zhongyuan Engineering Company (CZEC) was the contractor responsible for project implementation. The construction of this project started on April 8, 2005. The Chashma II power plant was officially inaugurated on May 10, 2011.

Additional details

The Chinese project title is 恰希玛核电2号机组. This project is linked to a government concessional loan (GCL) from China Eximbank that was provided for the same project (captured in Project ID #35262).

Number of official sources

8

Number of unofficial sources

17