CDB pledges $2.2 billion loan for Jask Oil Refinery Project (Linked to Project ID#66169)
Pledged amount
$ 2535143945.4461427
Adjusted pledged amount
$ 2535143945.4461427
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Iran
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
In 2017, China Development Bank reportedly agreed to provide a $2.2 billion loan for the Jask Oil Refinery Project. The purpose of this project is to construct a large oil refinery in the Port of Jask within Jask County and Hormozgan Province off the Sea of Oman. The construction was undertaken by National Petrochemical Company (NPC), a subsidiary to the Iranian Petroleum Ministry. Construction began on or around January 30, 2019. However, it is unclear if the CDB loan was ever finalized. It was announced that the Jask Oil Terminal was functional on May 5, 2021.
Additional details
This project is also known as the Jask Oil Export Terminal Project. The Persian project title is پالایشگاه جاسک. It is unclear if the CDB loan was ever finalized and officially committed-to; therefore, this project is status-coded as a pledge rather than a commitment or being in implementation for the time being.
Number of official sources
2
Number of total sources
14
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Iran [Government Agency]
Implementing agencies [Type]
National Petrochemical Company (NPC) [State-owned Company]