China Eximbank provides loan for Rice Drying Plant Construction Project
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Cuba
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
On 22 February, 2016, China Eximbank signed a loan agreement with the Government of Cuba for a Rice Drying Plant Construction Project. Neither the face value nor the terms of this loan are known. The project involves the construction of a plant that, upon completion, will process 37 tons of grain each day. The plant is located in the western province of Pinar del Río, about 150 kilometers from Havana. It will have a drying hall and two storage silos of 500 tons each. Jiangsu Muyang Group Co., Ltd, a Chinese firm from the eastern province of Jiangsu, is the contractor responsible for project implementation. Plant construction began in March 2017, and as of 27 October, 2019, construction was 65% completed.
Number of official sources
1
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Cuba [Government Agency]
Implementing agencies [Type]
Jiangsu Muyang Group Co., Ltd. [State-owned Company]