China Eximbank provides a $64.5 million USD in a syndicated loan to Gezhouba Shieli Cement Company LLC for the construction of a cement production plant (Linked to Project ID#53795)

In 2017, the Bank of China (BOC) and the Export-Import Bank of China provided a $129 million USD syndicated loan to Gezhouba Shieli Cement Company LLC to finance the construction of the cement production plant in Kazakhstan. The loan carried a maturity period of nine years. China Gezhouba Group Cement Co., Ltd. proved a guarantee for the loan, while China Export & Credit Insurance (Sinosure) provided overseas investment insurance that covered political risk up to 95%. The project had a total cost of $178.03 million USD (see '33. Daily Cement Production Capacity of 2500 Tons in Kazakhstan'). China Eximbank provided 50% of the loan, or $64.5 million USD (see '汇聚金融力量 布局“一带一路” 中行银团贷助葛洲坝水泥落籍哈萨克斯坦建厂兴业【人民网】'). The BOC contribution is captured by linked project ID#53795.This cement plant was located in Shieli of the Shieli District within the Kyzylorda Region. The plant was designed to have daily production of 2,500 tons of clinker cement and an annual production of 1 million tons of cement (see 'Energy China Group-built Cement Project in Kazakhstan Put into Production'). It was also designed to produce nine different nine types of cement. Its major product was oil well cement, which was expected to help reduced Kazakhstan's reliance on imports (see 'New Chinese-Kazakh cement plant put into operation in SW Kazakhstan'). The plant was expected to be completed before the end of 2018. China Triumph International Engineering Co., Ltd. (CTIEC) won the engineering, procurement and construction (EPC) contract in April 2017. Its subsidiary Beijing Triumph International Engineering Co., Ltd. assumed responsibility for design work (see 'Steppe Cement revenue rises by 20% to US$65.6m in 2017'). Construction began on April 7, 2017 (see 'Energy China Group-built Cement Project in Kazakhstan Put into Production'). The official opening ceremony of the plant was on December 11, 2018 (see 'Shuttered at home, cement plants bloom along China's new Silk Road'). The plant was officially put into operation on October 18, 2019 (see 'Energy China Group-built Cement Project in Kazakhstan Put into Production').Gezhouba Shieli Cement Company LLC (葛洲壩西里水泥有限公司) was a three-party joint venture (special purpose vehicle) between China Gezhouba Group Corporation Limited (CGGC) (50%), China Gezhouba Group Overseas Investment Co., Ltd (20%), a subsidiary of CGGC, and a local cement company called DANAKE Corporation (sometimes called Kazakhstan Darnak Co., Ltd.) (30%) (see 'Steppe Cement revenue rises by 20% to US$65.6m in 2017' and pg.7 of 'China Gezhouba Group Stock Company Limited Summary of 2016 Interim Report').

Number of official sources

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Number of unofficial sources

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