China Eximbank provides a $43.668 million USD loan to BTA Bank for the construction of South Kazakhstan cement plant

On October 31, 2008, the Export-Import Bank of China signed a $43.680 million USD preferential buyer’s credit (PBC) loan agreement with BTA Bank (Turan-Alem Bank) to finance construction of a cement plant in the South Kazakhstan Region. The loan carried a maturity period of six years and a "substantial grace period." It covered 80% of the cost of the project; the remainder was co-financed. BTA Bank then used the proceeds of the PBC loan to on-lend to Standard Cement LLP, the company responsible for the cement plant. The plant was to have a production capacity of the plant of 1 million tons of Portland cement per year. It was expected to meet the needs of southern Kazakhstan and export to other Central Asia countries. The plant used dry process to create cement, an environmentally-friendly process. The project included the construction of a cement production line with a daily capacity of 2,500 tons. Tianjin Cement Industry Design & Research Institute Co., Ltd. — a unit of Sinoma International Engineering Co., Ltd. — won the contract from Standard Cement for the design and equipment for the cement production line. The project commenced on May 8, 2012. The project was handed over to Standard Cement on June 25, 2013. After the expiration of the defects notification period, all construction on the project was complete on August 25, 2014.

Number of official sources

6

Number of total sources

9