Overview

China Development Bank pledges a $150 million loan to JISCO for Alpart Aluminum Plant in Jamaica (linked to Record ID#57211, #71640, and #71281)

Commitments (Constant USD, 2023)$163,608,236

Commitment Year•2016Country of Activity•JamaicaDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2016

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

China Development Bank (CDB)

Receiving agencies

State-owned companies

Jiuquan Iron & Steel (Group) Co. Ltd (JISCO)

Loan desecription

China Development Bank pledges a $150 million loan to JISCO for Alpart Aluminum Plant in Jamaica (linked to Record ID#57211, #71640, and #71281)

Interest type•Unknown

Narrative

Full Description

Project narrative

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 (Record ID#71640) with a loan from the China Development Bank worth 170 million USD (Record ID#57211). This project is also linked to JISCO's modernization and expansion project to improve the alumina plant's production capacity (Record ID#71281).

Staff comments

It is unclear if this loan was used to finance the modernization program captured in Record ID#71281 (either phase I or phase II).