CDB provided $110 million loan pledge in 2013 for the Rahnamo-Nur Uzbekistan-Aktyubinskaya Oblast Cement Plant Construction Project (linked to project #72754)
Pledged amount
$ 124084020.74088186
Adjusted pledged amount
$ 124084020.74088186
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]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Uzbekistan
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
No
Category
Project lifecycle
Description
On February 22, 2013, Akbar Mukhiddinov reported that China Development Bank would be extending a credit of 110 million USD to the Uzbek-U.S. joint venture Rakhnamo-Nur to implement the Rahnamo-Nur Uzbekistan-Aktyubinskaya Oblast Cement Plant Construction Project in the republic of Karakalpakstan, Uzbekistan. Details of the loan were not specified. Planned end construction date is end 2014. This project is located in the Aktyubinskaya Oblast in Karakalpakstan (an autonomous republic in north-western Uzbekistan). The Rahnamo-Nur Uzbek-American Joint Venture started construction of the cement plant in Karakalpakstan with design capacity of one million tons per year in 2009. 75 percent of the authorized fund of the venture is owned by American Platinum Partners, and 25 percent by the Uzbek side. Financing of the construction of the plant, totaling $128 million, was to be done through the equity of the joint venture and loans. In 2012, the joint venture suspended construction of the plant due to funding problems, however it appears that the project was completed by 2016 and began an expansion (see project #72754).
Number of official sources
2
Number of total sources
4
Details
Cofinanced
No