China Eximbank provides preferential buyer's credit for Kyaukse Glass Factory Construction Project

On December 5, 2007, China Construction & Agricultural Machinery Company (CAMC) and Myanmar’s Ministry of Industry signed a $30 million EPC contract for the Kyaukse Glass Factory Construction Project. China Eximbank and the Government of Myanmar subsequently signed a preferential buyer’s credit (PBC) agreement for the Kyaukse Glass Factory Construction Project. The proceeds of the PBC were to be used by the borrower to finance the EPC contract. The purpose of the project was to build a Kyaukse glass production line with a daily melting capacity of 150 tons and to provide three further processing lines for tempered glass, laminated glass, and mirror glass. The glass factory was built at the foot of Yinswe Hill, 5 miles east of the town of Kyaukse in Kyaukse Township, Kyaukse District, and Mandalay Region. Construction began in 2007. China Eximbank conducted an on-site, post-loan inspection on May 2, 2013. The project was officially completed on January 11, 2014.

Additional details

1. This project is also known as the Mandalay Float Glass Factory Project and the Float Glass Factory (Kyaukse) Project. The Chinese project title is 曼德勒省浮法玻璃厂 or 皎色浮法玻璃厂 or 浮法玻璃项目 or 缅甸浮法玻璃项目. 2. Per China Eximbank’s policy that a PBC can be used to finance up to 85% of the cost of a commercial contract, AidData has recorded the face value of the PBC (i.e. the transaction amount) as 85% of $30 million. 3. The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.

Number of official sources

8

Number of total sources

15