China Eximbank provides $80.7 million buyer’s credit loan for Phase 2 (Gomel-Zhlobin Section) of Railway Electrification Project (Linked to Project ID#66722, ID#66977, and ID#46387)

In July 2013, China Eximbank and the Government of Belarus signed a $80,728,167.20 buyer's credit loan agreement for Phase 2 (Gomel-Zhlobin Section) of the Railway Electrification Project. The loan carries a 12 year maturity. Its interest rate and grace period are unknown. The Government of Belarus on-lent the proceeds of the loan to Belarusian Railway and issued a sovereign guarantee in support of the loan. The proceeds of the loan were used by the borrower to finance approximately 85% of the cost ($94.97 million) of a commercial contract [№ НОКС/Ю-806] that Belarusian Railway signed with China National Electric Import & Export Corporation (CUEC) on December 3, 2012. The purpose of the project was to electrify an 86 km railway segment from Gomel to Zhlobin. CUEC was the EPC contractor responsible or implementation. The project commenced in April 2014 and it was completed on July 8, 2016.

Additional details

1. This project is also known as the Second Stage of the Electrification of Gomel-Zhlobin-Osipovichi and Zhlobin-Kalinkovichi Project, the Second Stage of the Electric Locomotive and Railway Electrification Project, and the Gomel-Zhlobin Section of the Gomel-Zhlobin-Osipovichi and Zhlobin-Kalinkovichi Railway Electrification Project. The Chinese project title is 日洛宾-戈梅利铁路电气化改造项目. The Russian project title is проекта «Электрификация участков Гомель – Жлобин – Осиповичи и Жлобин – Калинковичи. Вторая очередь. Участок Гомель – Жлобин». 2. China Eximbank also financed Phase 1 (as captured via Project ID#66722), Phase 3 (as captured via Project ID#66977), Phase 4 (as captured via Project ID#46387) of the Railway Electrification Project. 3. Belarusian Railway is the national state-owned railway company of Belarus. It operates all of the rail transport network in Belarus

Number of official sources

13

Number of total sources

16