China Eximbank provides RMB 299.55 million government concessional loan for Phase 1 of Railway Passenger Car Acquisition Project (Linked to Project ID#88173)

In 2007, China Eximbank and the Government of Turkmenistan signed an RMB 299.55 million government concessional loan (GCL) agreement for Phase 1 of the Railway Passenger Car Acquisition Project (captured in Project #54403). The borrowing terms of this loan are unknown. The proceeds were used by the Turkmenistan Ministry of Railways to finance Phase 1 of the commercial contract signed on January 27, 2007 with CITIC Construction. Then, in 2009, China Eximbank and the State Bank for Foreign Economic Affairs of Turkmenistan signed an RMB 328.45 million government concessional loan (GCL) agreement for Phase 2 of the Railway Passenger Car Acquisition Project (captured in Project #88173). This loan carried a 20-year maturity, but its interest rate and grace period are unknown. The proceeds were used by the Turkmenistan Ministry of Railways to finance Phase 2 of the amended RMB 628 million commercial contract signed on November 13, 2009 with CITIC Construction. CITIC Construction was the contractor responsible for implementation. The first batch of 104 passenger cars was successfully delivered in June 2008 and put into use by Turkmenistan's Ministry of Railways. The second batch of 113 passenger cars was successfully delivered in October 2011 and put into use by Turkmenistan's Ministry of Railways.

Additional details

1. The Chinese project title is 土库曼斯坦铁路客车供货项目. The Russian project title is первая этапа проекта закупки железнодорожных пассажирских вагонов.

Number of official sources

8

Number of total sources

12