China Eximbank provides $165.6 million for 150 MW Angren Thermal Power Plant Project
Commitment amount
$ 203668158.03011554
Adjusted commitment amount
$ 203668158.03
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Uzbekistan
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Central government-guaranteed debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
On September 9, 2011, China Eximbank and Uzbek Industrial and Construction Bank of Uzbekistan (JSC Uzpromstroybank) signed an agreement for a $165.6 million loan for the Angren Thermal Power Plant Modernization project. The loan was provided on the following terms: 20 year maturity, 5 year grace period, 2% interest rate. The Government of Uzbekistan also provided a sovereign guarantee for the China Eximbank loan. The total cost of the project was $242.6 million, with Uzbekenergo funding the remaining $75.1 million. Harbin Electric was the contractor responsible for project implementation. The EPC contract was signed between Harbin Electric and Uzbekenergo on September 26, 2012. The EPC contract came into force on December 31, 2013. A groundbreaking ceremony was held on May 3, 2014. The Angren TPP was successfully connected to the power grid on August 21, 2016.
Number of official sources
6
Number of total sources
12
Details
Cofinanced
No
Direct receiving agencies [Type]
Uzpromstoybank [State-owned Bank]
Implementing agencies [Type]
Uzpromstoybank [State-owned Bank]
Harbin Electric International Co., Ltd. (HEI) [State-owned Company]
Guarantee provider [Type]
Government of Uzbekistan [Government Agency]
Loan Details
Maturity
20 years
Interest rate
2.0%
Grace period
5 years
Grant element (OECD Grant-Equiv)
39.0747%