Skip to content
AidData logo

Overview

China Eximbank provides RMB 154 million government concessional loan for the Upper Trishuli 3A-Kathmandu 220kV Transmission Line and 132kV Line Bay Extension Works Project (Linked to Record ID#53716)

Commitments (Constant USD, 2023)$27,073,861
Commitment Year•2011Country of Activity•NepalDirect Recipient Country of Incorporation•NepalSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 17, 2011
Start (actual)
Jan 1, 2012
End (planned)
Aug 26, 2013
End (actual)
Apr 30, 2019
First repayment (originally scheduled)
Aug 15, 2016
Last repayment (originally scheduled)
Aug 10, 2036

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

This project involved the construction of a 48 km, 220 kv double circuit transmission line from the Upper Trishuli 3A Hydroelectric Power Plant (located near Simle village within Kispang Rural Municipality on the borders of the Rasuwa and Nuwakot districts) to the Matatirtha substation in Kathmandu. More detailed locational information on the route of the transmission line can be found at https://www.nea.org.np/admin/assets/uploads/supportive_docs/AnnualReport12.pdf and http://rpgcl.com/images/category/TSMPN_RPGCL_GoN.pdf and https://www.openstreetmap.org/way/826107757#map=15/27.7786/85.2797

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

  • Government of Nepal

Implementing agencies

Government Agencies

  • Government of Nepal

State-owned companies

  • China International Water and Electrical Corporation (CWE)

Loan desecription

China Eximbank provides RMB 154 million government concessional loan for the Upper Trishuli 3A-Kathmandu 220kV Transmission Line and 132kV Line Bay Extension Works Project

Grace period•5 yearsGrant element•59.1497%Interest rate (t₀)•1.75%Interest type•Fixed Interest RateMaturity•25 years

Narrative

Full Description

Project narrative

On March 27, 2011, Nepal Electricity Authority and China International Water & Energy Corporation (CWE) signed a $22.6 million EPC contract for the Upper Trishuli 3A-Kathmandu 220kV Transmission Line and 132kV Line Bay Extension Works Project. Then, in May 2011, the Export-Import Bank of China and the Government of Nepal signed a Memorandum of Understanding (MoU) on the Upper Trishuli 3A-Kathmandu 220kV Transmission Line and 132kV Line Bay Extension Works Project. China Eximbank and the Government of Nepal subsequently signed a RMB 154 million ($24,335,542) government concessional loan (GCL) agreement [CHINA EXIMBANK GCL NO. (2011) 33 TOTAL NO. (1400)] on August 17, 2011 to finance the project. The reported borrowing terms of the loan are as follows: an interest rate of 1.75%, a maturity period of 25 years, and a grace period of 5 years. The loan achieved a disbursement rate of at least 56.2% ($13,684,691 out of $24,335,542), with 5 disbursements taking place between June 2014 and June 2021: a $1,290,322 disbursement on July 17, 2014, a $3,305,883 disbursement on December 18, 2018, a $4,676,694 disbursement on January 23, 2019, a $3,972,280 disbursement on June 30, 2020, and a $439,512 disbursement on June 30, 2021. The loan's amount outstanding was RMB 128,739,985.4000 ($19,896,375.2093) as of July 15, 2021. The project involved the construction of a 48 km, 220 kv double circuit transmission line from the switchyard at the Upper Trishuli 3A Hydroelectric Power Plant (located near Simle village within Kispang Rural Municipality on the borders of the Rasuwa and Nuwakot districts) to the Matatirtha substation in Kathmandu. The project was planned to be completed on August 26, 2013. However, the 2015 earthquakes in Nepal, fuel issues, land acquisition, and delays in tree-cutting permits slowed project implementation considerably. The line was completed on April 30, 2019. It began transmitting power from the Upper Trishuli 3A Hydroelectric Power Plant on November 18, 2019.

Staff comments

1. The Government of Nepal’s Aid Information Management System (AMIS) records the face value of the loan as $24,335,542. However, given that the loan was provided through an RMB-denominated GCL agreement, AidData records the face value of the loan as RMB 154 million. 2. A report published by the Government of Nepal’s Public Debt Management Office (PDMO) puts the maturity of the loan at 10.17 years (see https://www.dropbox.com/s/2jgltrisjo9nfr1/PDMO_Annual_debt_Report_2077_1650957136.pdf?dl=0). These discrepancies warrants further investigation. 3. The Chinese project title is 垂树里至加德满都220KV输电线路及132KV线路扩展项目. 4. The creditor's loan identification number is GCL[(2011)]33(383) or CHINA EXIMBANK GCL NO. (2011) 33 TOTAL NO. (1400). The Government of Nepal's debt identification number is 1400.