Agricultural Bank of China provides RMB 200 million loan to Zhongtai (Dangara) New Silk Road Textile Industry Company for the Agricultural and Textile Industrial Park Project (Linked to Record ID#46222, #54353)

Project narrative

On September 29, 2017, the Agricultural Bank of China, Xinjiang Corps Branch, "successfully handled" a loan of RMB 200 million for Agricultural and Textile Industrial Park Project in Tajikistan. The loan was intended to support the construction of the project in Tajikistan by the Xinjiang Production and Construction Corps. The Agricultural and Textile Industrial Park project was reportedly the largest agricultural and textile investment project in Tajikistan since its independence in 1991. The project included 200,000 mu of cotton agricultural park and 150,000 spinning spindles. The first phase of 150,000 mu of cotton was to be sown in 2015, and the spinning project was to be completed and put into operation in 2016. After the project is completed, the industrial park was expected to be able to produce 80,000 tons of seed cotton, 32,000 tons of lint, 24,000 tons of cotton yarn, 91.5 million meters of cotton cloth, annual sales revenue of RMB 1.525 billion, and a profit of RMB 250 million, improving the welfare of its workers and driving industrial and agricultural development in Tajikistan. On April 28, 2022, Ambassador Ji Shumin and President Emomali Rahmon jointly opened the third and fourth phases of the Zhongtai New Silk Road Tajikistan Agricultural Textile Industrial Park. For a $118 million USD loan from the Export-Import Bank of China for the industrial park, see linked Record ID#46222. For a RMB 1.1 billion investment by three Chinese companies in the industrial park, please see linked Record ID#54353.