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Overview

China Eximbank provides $613 million loan for Abadan Combined Cycle Power Plant Project

Commitments (Constant USD, 2023)$652,309,472
Commitment Year•2017Country of Activity•IranDirect Recipient Country of Incorporation•IranSector•EnergyFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2017
Start (actual)
Jun 1, 2018

Geospatial footprint

Map overview

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The purpose of this project is to support a power plant that is located 10 km northeast of the city of Abadan in Khuzestan Province. The locational coordinates of the plant, which is situated at km 9 along the Abadan-Mahshahr Road, are: Latitude= 30.402, Longitude= 48.358. More detailed locational information can be found at https://www.openstreetmap.org/way/400653617.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned companies

  • Thermal Power Plants Holding Company (TPPH)

Implementing agencies

Private Sector

  • MAPNA Combined Cycle Power Plants Construction & Development (MD-2) Company

State-owned companies

  • Moshanir Co.

Loan desecription

China Eximbank provides $613 million loan for Abadan Combined Cycle Power Plant Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2017, China Eximbank issued a $613 million loan for the Abadan Combined Cycle Power Plant Project. The purpose of this project is to support a power plant that is located 10 km northeast of the city of Abadan in Khuzestan Province. The locational coordinates of the plant, which is situated at km 9 along the Abadan-Mahshahr Road, are 30.402, 48.358. The project involves the installation of two E-type 160-MW steam turbines, HRSG (heat recovery system generator) with supplementary firing, ACC cooling system, and a 400-kv substation. MAPNA Combined Cycle Power Plants Construction & Development (MD-2) Company is the contractor of the project. The second steam unit was delivered on January 12, 2020. The steam portion was constructed as an addendum to the original contract for construction of Abadan thermal power plant, signed in 2006. Thermal Power Plants Holding Company is the client of the project and Moshanir serves as the consultant and supervisor. The power plant's electricity generation capacity is expected to reach 815 megawatts (MW) and the plant's efficiency is expected to be enhanced by 50 percent once the two steam units (each with a 160 MW capacity) go into operation.

Staff comments

1. The loan commitment year is uncertain. For the time being, AidData treats 2017 as the loan commitment year because it is the year when Iran’s Ministry of Economy disclosed the existence of the loan. 2. According to a MAPNA's report (See "Second Steam Portion of Abadan Power Plant Receives FAC"), Thermal Power Plants Holding Company is the implementing agency's project client. Since Thermal Power Plants Holding Company (TPPH) is responsible for organizing government activities under policies of Ministry of Energy of Iran, AidData assumes that the company is the recipient agency. 3. The Persian project title is نیروگاه برق آبادان or یروگاه سیکل ترکیبی آبادان. 4. The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.