China provides $1.5 bil to build the Argentine Metro project from Buenos Aires to Cordoba (Linked to #41096, #54754, and #54755)
Pledged amount
$ 1844820272.011916
Adjusted pledged amount
$ 1844820272.011916
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]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Argentina
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
On July 24, 2010, the president of China Railway International signed an agreement with the government of Argentina to provide $1.5 billion USD in loans to build the Buenos Aires-Córdoba Metro project. The 15-year loan includes a five-year grace period over 15 years.The interest rate was expected to be "low," around 4 percent to 5 percent.The project contains 4 subway lines of total 18.57 km, with 30 stations. The passenger flow will reach 200 thousand people per day and 70 million per year. The total investment is $1.8 billion USD. China provides 85% of the total investment, and the Argentina government take the rest 15%。The construction is supposed to be started in the first half of 2011, and completed in 3 to 5 years. The project was redesigned again in 2012.The redesigned project proposes a three line metro network consisting of 32.9 kilometers (20.4 mi) of route and 26 stations to be built by China Railway International and financed by a $1.8 billion USD loan from China. This project was cancelled in 2017.
Number of official sources
7
Number of total sources
15
Details
Cofinanced
Yes
Direct receiving agencies [Type]
Government of Argentina [Government Agency]
Implementing agencies [Type]
China Railway International Group Co., Ltd. (CRIG) [State-owned Company]
Loan Details
Maturity
15 years
Grace period
5 years