Export-Import Bank of China provides overseas investment loan to support projects in Morowali Industrial Park in Indonesia (Linked to ID #85817 and #61986)

On October 2nd, 2013, Shanghai Dingxin Investment (Group) Col, Ltd. — a subsidiary of Tsingshan Steel — and Bintang Delapan Group signed an agreement to establish a joint venture, PT. Indonesia Morowali Industrial Park (IMIP), as the developer of the China-Indonesia Economic and Trade Cooperation Zone Indonesia Morowali Industrial Park (IMIP) in Sulawesi Province (referred to as 中国印尼综合产业园区青山园区 or 印尼经贸合作区青山园区 in Chinese). Shanghai Dingxin Investment (Group) Co., Ltd. holds 66.25% shares and Indonesia PT Bintangdelapan Group holds 33.75% shares. In 2018, the Export-Import Bank of China agreed to provide an overseas investment loan (境外投资贷款) to Shanghai Dingxin Investment Group for projects in the Morowali Industrial Park ("进出口银行上海分行助力印尼青山工业园区建设"). The overseas investment loan helps promote the development of the technical level of Indonesian industry, but also promotes the export of China's mechanical and electrical equipment, and improves China's ability to guarantee resources such as nickel and chromium. In recent years, the Shanghai Branch of the Export-Import Bank of China has cooperated closely with Shanghai Dingxin. It has used overseas investment and loans to support the construction of the fourth (see ID #85817) and sixth key projects in the park. The transaction amount and details about the sixth key project are unclear. This project is part of China's Belt and Road Initiative (BRI). The total planned land area of the park is about 2000 hectares. By 2018 there have been four secondary base stations, 10 satellite TV reception systems, and a 30,000-ton terminal built as well as eight 5,000-ton dock berths and more than 70 residential houses. As of the end of September 2016, the actual investment in the park and the park project totaled approximately US$2.5 billion ("【经贸合作区】中国印尼综合产业园区青山园区"). Construction commenced in late 2013 ("INDONESIA MOROWALI INDUSTRIAL PARK"). China Development Bank also provided funding for the projects in the industrial park (See ID #61986).

Additional details

1. The Chinese project title is 中国印尼综合产业园区青山园区 or 青山园区. 2. This loan is likely separate from the overseas investment loan China Eximbank provided in 2017, captured in ID #85817.

Number of official sources

5

Number of total sources

8