CDB loan for construction of Quijos Hydroelectric Plant (linked to #69319)

The Quijos hydroelectric plant project was funded through a 2011 China Development Bank loan of $2,052,360,403.03 (Project ID#35930), specifically through the $1.4 billion discretionary component (Tranche A; Project ID#69319). The loan terms of Tranche A have been applied to this project. In 2011, the Corporation Electrica del Ecuador (CELEC) awarded the 95.5 million USD contract to CNEEC to build the Quijos hydroelectric power plant. Celec awarded China National Electric Equipment Corp. (CNEEC) a US$94.7 million contract in December for construction and equipping of Quijos, to be complete by December 2015. However, by the end of 2015, state-owned Celec submitted its first request to the Public Procurement Service (Sercop) to include the Chinese company in the register for faults in a contract for construction, installation and commissioning of the 50 MW Quijos hydroelectric project. As of January 2017, the project is reported 46% completed.

Additional details

A CELEC project summary released in 2014 put the total project cost at 155,437,705.11 USD. It is unclear how much of the total project cost was financed by CDB, and the transaction amount is left blank for now. As it is also unclear if disbursements were ever made, status left as commitment for now.

Number of official sources

3

Number of total sources

8