China Development Bank pledges a $150 million loan to JISCO for Alpart Aluminum Plant in Jamaica (linked to #57211, #71640, and #71281)
Pledged amount
$ 177120676.25377008
Adjusted pledged amount
$ 177120676.25377008
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Jamaica
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
Yes
Category
Project lifecycle
Description
In 2016, the China Development Bank pledged to loan 150 million USD to Jiuquan Iron and Steel Co Ltd (JISCO) to help Alumina Partners of Jamaica (Alpart) restore alumina production and improve its production capacity. The maturity, grace period, and interest rate of the loan are unknown. This project is linked to JISCO's acquisition of Alumina Partners of Jamaica (Alpart) alumina plant from Rusal for 299 million USD (project ID #71640) with a loan from the China Development Bank worth 170 million USD (project ID #57211). This project is also linked to JISCO's modernization and expansion project to improve the alumina plant's production capacity (project ID #71281).
Additional details
It is unclear if this loan was used to finance the modernization program captured in project ID #71281 (either phase I or phase II).
Number of official sources
7
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Jiuquan Iron & Steel (Group) Co. Ltd (JISCO) [State-owned Company]