China Eximbank provides $35.9 million loan for Dorale-Nagad Railway Ramp Project

On June 20, 2008, China Railway Construction Corporation and Djibouti's Minister of Equipment signed a memorandum of understanding (MOU) for the Dorale-Nagad Railway Ramp Project. Then, on December 7, 2011, China Eximbank and the Government of Djibouti signed a $35,956,760 (DJF 6,398,000,000) concessional loan agreement for the project. The borrowing terms of the loan are unknown. However, it is known that the borrower was expected to use the loan proceeds to finance a commercial contract with China Railway Construction Corporation, which was signed on April 15, 2009. The project involved the construction of a 12 km railway connection line from Dorale New Port to Nagad station in Djibouti. The originally expected duration of the construction period was two years. The project reportedly reached completion, but its precise implementation start and end dates are unknown.

Additional details

1. The French project title is Bretelle de chemin de fer Dorale/Nagad or Liaison du Port de Doraleh à Nagad par une bretelle ferrée or le projet de construction d'un rail reliant Doraleh et Nagad.

Number of official sources

9

Number of total sources

9