China Eximbank pledges buyer's credit loan to Shchekinoazot for Ammonia Production Complex Construction Project
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This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Russia
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
Yes
Category
Project lifecycle
Description
In October 2017, China EXIM Bank representatives pledged a loan to Shchekinoazot, a Russian raw chemicals company, for an ammonia production complex. The complex is planned to have a capacity of 1500 tons/day of ammonia and 2000 tons/day of urea. The loan, according to a Gazprombank source, is a buyer's credit with the implementing agency of China National Chemical Engineering Company (CNCEC). The Gazprom source indicated the funding is at least on the implementation stage. Reportedly, on March 15, 2019, Shchekinoazot entered a contract with China National Chemical Engineering Co., Ltd. for the design, supply of equipment, installation and commissioning of an ammonia production complex with a capacity of 525 thousand tons per year and urea with a capacity of 700 thousand tons per year. The details of the agreement are unknown.
Number of official sources
3
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Shchekinoazot [Private Sector]
Implementing agencies [Type]
China National Chemical Engineering Corporation (CNCEC) [State-owned Company]