China Eximbank provides RMB 1.1 billion seller’s credit for 2x325MW Shazand Power Plant Project
Commitment amount
$ 341016500.7964561
Adjusted commitment amount
$ 341016500.8
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Iran
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
On December 20, 2000, China Eximbank issued an RMB 1.1 billion seller’s credit to China Machinery Equipment Import and Export Corporation and the Shanghai Electric Group for 1.1 billion RMB for the 2x325MW Shazand Power Plant Project. The proceeds of the loan were to be used by the borrower to finance a contract that was signed with China Machinery Equipment Import and Export Corporation and the Shanghai Electric Group in June 1996. The Chinese contractors were responsible for designing a power plant in the city of Shazahand within Iranian Azerbaijan (Shazand County, Markazi Province) with two 325,000 kilowatt generating units. They were also responsible for engineering management, civil engineering, and equipment installation (including boilers, steam turbines, generating sets, meter control systems and electricity systems). The originally expected project completion date was March 20, 2004. This first power generation unit was commissioned in 2004 and the second power generation unit was commissioned in 2005.
Additional details
1. The Chinese project title is 伊朗Sahand热电站, 2×325MW. The Persian project title is نیروگاه شازند.
Number of official sources
7
Number of total sources
15
Details
Cofinanced
No
Direct receiving agencies [Type]
China Machinery and Equipment Import and Export Co (CMEIE) [State-owned Company]
Shanghai Electric Group Co., Ltd. [State-owned Company]
Implementing agencies [Type]
China Machinery and Equipment Import and Export Co (CMEIE) [State-owned Company]
Shanghai Electric Group Co., Ltd. [State-owned Company]