[Cancelled] China Eximbank provides $26 million loan for 33kV South Mahé Transmission Project

Project narrative

On December 14, 2007, China Eximbank and the Government of Seychelles reportedly signed an agreement related to a $26 million loan for the 33kV South Mahé Transmission Project. The borrowing terms of this loan are unknown. The proceeds of the loan were to be used by the borrower to finance an RMB 196.58 million commercial contract with China National Complete Plant (COMPLANT or Zhongcheng Group), which was signed on September 17, 2007. The purpose of the 33kV South Mahé Transmission Project was to build a 33 kV electrical power supply network for southern Mahé Island. It involved building a substation in Roche Caiman district and installing underground transmission cables to South Mahé. Construction was planned to start in early 2008 and end three and a half years later in 2011. However, there is no evidence — such as project commencement or handover ceremonies — that construction was ever initiated or completed. A 2019 tender from the Government of Seychelles’s procurement office suggests this project was suspended and maybe reopened years later. A June 2020 article says that the project was experiencing delays due to COVID-19 pandemic. Later, Saudi Fund for Development reported took over the project. On October 4, 2023, the project was inaugurated.