Bank of China provides two loans worth a combined $208 million USD to refinance 2010 loan to JV Caspi Bitum LLP (Linked to Project ID#40265 and #73404)
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Kazakhstan
Sector
Action relating to debt (Code: 600)
Flow type
Debt rescheduling
Level of public liability
Potential public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On September 28, 2010, the Bank of China (BOC) signed a $232 million USD loan agreement with JV Caspi Bitum LLP, a Kazakh-Chinese joint venture between Kazakhstan Petrochemical Industries JSC and CITIC Kazakhstan LLP, for the construction of a bitumen (asphalt) plant in Aktau, captured by linked project ID#40265. CITIC Kazakhstan also contributed $29 million USD for this project, as captured by linked project ID#73404. Then, on June 17, 2016, JV Caspi Bitum LLP entered into two additional loan agreements with BOC in an aggregate principal amount of $208 million USD, to refinance the 2010 loan. The funds were drawn down and the 2010 loan was fully repaid as of 2018.
Additional details
AidData has captured all refinancing records without a transaction amount so as to avoid double-counting. Additionally, normally AidData would create two separate projects to capture each loan. However, because they were signed on the same day, and no information on the new terms could be found, AidData has elected to let this project count for both.
Number of official sources
1
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
JV Caspi Bitum LLP [Joint Venture/Special Purpose Vehicle]
Implementing agencies [Type]
JV Caspi Bitum LLP [Joint Venture/Special Purpose Vehicle]