Skip to content
AidData logo

Overview

China Road & Bridge Corporation tasked with the deep-water port project in Moroni worth roughly 65 billion Comoros Francs

Commitments (Constant USD, 2023)$157,015,215
Commitment Year•2018Country of Activity•ComorosDirect Recipient Country of Incorporation•ComorosSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2018

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% host country ownership

Funding agencies

State-owned companies

  • China Road & Bridge Corporation (CRBC)

Receiving agencies

Government Agencies

  • Government of Comoros

Implementing agencies

State-owned companies

  • China Road & Bridge Corporation (CRBC)

Loan desecription

China Road & Bridge Corporation tasked with the deep-water port project in Moroni worth roughly 65 billion Comoros Francs

Interest type•Unknown

Narrative

Full Description

Project narrative

On March 22nd, 2018, the Vice President in charge of the Ministry of Transport and Spatial Planning and the General Manager of the Chinese company China Road and Bridge Corporation (CRBC) signed a contract for the construction of a deepwater port on the current site of the port of Moroni. The project is expected to cost roughly 65 billion Comoros Francs. The site was decided upon after a feasibility study done by CRBC. (http://crfimmadagascar.org/en/infrastructure-critique-maritimepetrole-et-gaz/media-comores-port-de-moroni-plus-de-65-milliards-construction-dun-port-eau-profonde/). The project is expected to take two years for completion but no start date has been established yet (Port de Moroni : Plus de 65 milliards pour la construction d’un port en eau profonde). On March 22, 2018, a feasibility study was conducted, and the site of the current Moroni harbor is chosen for the construction of the new deep-water port. Though multiple sources indicate that Chinese funding is certainly involved, no specific details have been uncovered.

Staff comments

1. Need to further investigate if this is a loan or grant. Loan details are entered in the loan screen but Stage 2 Coder is unsure where they came from. As of March 2022, no new updates have been made on this project. 2. The loan terms previously entered (2.1% interest rate, 30-year maturity, 5 year grace period, 59.7609 Grant Element (OECD Cash-Flow), 55.6976 Grant Element (OECD Grant-Equiv), 31.3982 Grant Element IMF, 12/31/2022 First Loan Repayment Date, 12/25/2047 Last Loan Repayment Date, etc.) have been removed due to lack of documentation {{see project comments & revision history}}. Multiple internal reviews, including reference to a 2019 World Bank document (pg. 77), provide no evidence that a Chinese loan or grant was issued for this project. Interest Rate Type set to Unknown.