China Eximbank provides $26.9 million export seller's credit for 132 kV al-Hiswa-Khormakser Transmission and Transformation Project (Linked to Project ID#64621)

On February 22, 2004, China Machinery Engineering Corporation (CMEC) and the Government of Yemen signed a $26,950,557.60 supplier credit (vendor financing) agreement for the 132 kV al-Hiswa-Khormakser Transmission and Transformation Project. This agreement was signed into law on June 5, 2005 (Law No. 31 of 2005). The borrowing terms of the supplier’s credit, which CMEC provided with support from an export seller’s credit from China Eximbank, are unknown. The borrower was to use the proceeds from the supplier credit to finance approximately 80% of the $28 million cost of an EPC contract with CMEC. The project involved the construction of a 132 kV electricity transmission line from the al-Hiswa Power Station (محطة الحسوة الأيام or محطة الحسوة البخارية) to the town of Khormakser (خور مكسر) near the port city of Aden. CMEC also provided a supplier credit for the 60 MW al-Hiswa Power Station Expansion Project (see Project #64621).

Additional details

1. This project is also known as the 132 kV al-Hiswa-Khor Maksar Transmission and Transformation Project. The Chinese project title is 哈斯瓦（HISWA）至克豪?克萨（KHORMAKSAR）132千伏输变电项目 or 也门输变电项目. The Arabic project title is مشروع خط النقل (132 ك.ف) الحسوة/ خورمكسر or مشروع تصريف الطاقة الحسوة خور مكسر or مشروع نقل الطاقة الحسوة خور مكسر.

Number of official sources

4

Number of total sources

9