China Eximbank provides $20.8 million buyer's credit loan for Phase 2 of Khatoonabad Copper Smelter Project

On September 7, 2000, China Eximbank and the Bank Tejarat of Iran signed a $20,840,000 buyer’s credit loan for Phase 2 of Khatoonabad Copper Smelter Project. The borrowing terms of the loan are unknown. The proceeds of this loan were used to finance 85% of the cost of a $24.5 million commercial contract with China Nonferrous Metal Industry's Foreign Engineering and Construction Company Limited. This project involved the construction of the Khatoonabad Copper Smelter in the town of Khatoonabad (or Khatoon Abad) within Kerman province, which is located at 30.080 N and 55.400 E with an attitude of 1780 meters above sea level. The furnace was ignited for the first time on April 26, 2004 and copper production began on July 26, 2004. A formal project completion ceremony took place on December 21, 2004. The plant successfully passed a performance assessment on June 20, 2005. Phase 1 of the project started in 1993. China Nonferrous Metal Industry's Foreign Engineering and Construction company signed a design and supply contract that worthed $609,500,00 with National Iranian Copper Industry Co. on November 24, 1993. China Nonferrous Metal Industry's Foreign Engineering and Construction company agreed to provided design, equipment, installation and adjustment service, and training to Khatoonabad Copper Smelter Project.

Additional details

1. This project is also known as Phase II of the Khatoon Abad Copper Smelter Plant Construction Project, Phase II of the Khatunabad Copper Complex Construction project, Phase II of the Copper Smelter Plant Construction Project, or Khatoon Abad Copper Smelter Project. The Chinese project title is 阿巴德铜冶炼厂 or 伊朗哈通-阿巴德銅冶煉廠項目 or 伊朗哈通•阿巴德铜冶炼厂项目. The Persian project title is کارخانه ذوب مس خاتون آباد. 2. The Government of Iran holds a minority ownership stake in Bank Tejarat. 3. 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.

Number of official sources

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