Overview

China CITIC Bank provides $9.1 million loan for Fandok Particle Board Production Line Project

Commitments (Constant USD, 2023)$12,624,592

Commitment Year•2009Country of Activity•BelarusDirect Recipient Country of Incorporation•BelarusSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2009

Start (actual): Aug 17, 2010

Geospatial footprint

Map overview

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This project involved the creation of a particle board production line at a factory in the town of Bobruisk. More detailed locational information can be found at https://www.openstreetmap.org/relation/6665593.

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 Commercial Banks

China CITIC Bank Corporation Limited

Receiving agencies

State-owned Banks

JSC JSSB Belarusbank

State-owned companies

OJSC Fandok

Implementing agencies

State-owned companies

XY International Investment

Loan desecription

China CITIC Bank provides $9.1 million loan for Fandok Particle Board Production Line Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2009, China CITIC Bank signed a $9.1 million loan agreement with Belarusbank — a state-owned bank in Belarus — for the Fandok Particle Board Production Line Project. Belarusbank then on-lent the proceeds to OJSC Fankok (ОАО «ФанДОК») — a state-owned company — for the creation of a particle board production line at its factory in the town of Bobruisk. Upon completion, it was envisaged that the production line would have the capacity to manufacture 30,000 cubic meters of thin particleboard slabs (2-6 mm thick) per year. OJSC Fankok used the loan proceeds to finance a commercial contract that it signed with XY International Investment (北京轩辕国际投资有限公司) in 2009. On August 17, 2010, OJSC Fankok received its first shipment of Chinese equipment from XY International Investment. The plant was schedule to open in early 2013.

Staff comments

The Russian project title is завод по производству тонких плит ДСП. The Chinese project title is 博布鲁伊斯克市凡岛克厂刨花板生产线项目 or 白俄罗斯“凡岛克”木材加工厂刨花板生产线项目 or “凡岛克”木材加工厂. OJSC FanDOK is one of the largest woodworking enterprises in Belarus. It was founded in 1929 and its factory is located in Bobruisk.