Overview

China Eximbank provides RMB 60 million loan for Aquaculture Farm Project

Commitments (Constant USD, 2023)$17,180,299

Commitment Year•2000Country of Activity•MozambiqueDirect Recipient Country of Incorporation•MozambiqueSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2000

Start (actual): Oct 1, 2000

End (actual): Oct 1, 2002

Geospatial footprint

Map overview

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This project involved the construction of a 500 hectare aquaculture farm in Beira City. More detailed location information can be found at: https://www.openstreetmap.org/node/259593578

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Joint Venture/Special Purpose Vehicles

SOL&MAR, Co., Ltd

Loan description

China Eximbank provides RMB 60 million loan for Aquaculture Farm Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2001, China Eximbank and SOL&MAR, Co., Ltd. signed an RMB 60 million loan for an Aquaculture Farm Project in Mozambique. The borrowing terms of the loan are unknown. The project, which had a total investment cost of $12.42 million, involved the construction of a 500 hectare aquaculture farm in Beira City. The farm included a 170 hectare shrimp pond, 1 cold storage processing factory, 1 pumping station, 1 subsidiary office and 1 living area. SOL&MAR, Co., Ltd, a wholly-owned subsidiary of Weihai International Economic and Technical Cooperative Co., Ltd., was established to facilitate the implementation of this project. Construction of the shrimp pond started in October 2000 and ended in October 2002.

Staff comments

1. The Chinese project title is 在莫水产养殖项目 or 威海国际水产养殖项目. 2. Some sources identify the face value of the loan as $12.42 million.