CDB and CCB provide $30 million syndicated export credit agreement for Phase 2 of DET-AL Aluminum Plant Construction Project

In late 2012, a syndicated lending group consisting of the Inner Mongolia Branch of China Development Bank (CDB) and China Construction Bank Corporation (CCB) signed a $30 million syndicated export credit agreement with Sichuan Machinery and Equipment Import and Export Corporation for Phase 2 of DET-AL Aluminum Plant Construction Project. The purpose of this project was to facilitate the construction of the second phase of the DET-AL Ganja Aluminum Plant in Azerbaijan’s Ganja district. The second phase sought to increase the plant's production capacity of electrolytic aluminum from 60,000 to 160,000 tons. Sichuan Machinery was involved in the first phase of construction on the aluminum plant, which officially launched on March 3, 2008. Due to limited cash flow, Sichuan Machinery and Equipment Import and Export Corporation agreed to the syndicated loan in late 2012 The first phase of the project was completed on March 15, 2012. By early 2014, the construction of the aluminum plant was complete. An opening ceremony was held on January 21, 2014.

Additional details

1. The Chinese project title is 电解铝二期项目 or 阿塞拜疆电解铝厂项目 or 四川机械设备进出口公司电解铝厂项目.

Number of official sources

10

Number of total sources

13