China Development Bank provide $16 million loan for Shargun Coal Mine Modernization Project (Linked to Project #72686)

In 2014, China Eximbank and China Development Bank together provided $105,510,000 in debt financing for the Shargun Coal Mine Modernization Project. China Eximbank provided a $89.5 million preferential buyer’s credit loan and China Development Bank provided a $16,010,000 loan. This record captures the CDB loan. The Shargun Coal Mine Modernization Project — also known as the “Modernization of JSC “Shargunkumir” project or 了沙尔贡煤矿现代化 — seeks to replace the existing technologies and production at Baisun and Shargun coal deposits and bring project capacity to 900 thousand tons of coal per year. It also involves the modernization of the system of coal transportation. China Coal Technology & Engineering Group (CCTEG) is the contractor responsible for project implementation and its work is being overseen by Uzbekcoal JSC. Through its contract with Uzbekcoal JSC, CCTEG is responsible for delivering two mechanized complexes with production capacity of 450,000 tons per year each on a turnkey basis. China Railway Tunnel Group Co., Ltd. is also involved in project implementation. As of September 12, 2017, China Coal Technology & Engineering Group Corp., and China Railway Tunnel Group Co., Ltd., began the preparatory work for this project. Project implementation officially began on May 23, 2018. The construction period for the project is 38 months. The projected completion date is November 2020, which is 38 months from the preparatory work conducted in September 2017. On May 3, 2020, the project was reported to be completed. Project ID#72686 captures the PBC loan from China Eximbank.

Number of official sources

5

Number of total sources

13