Skip to content
AidData logo

Overview

CDB provides $3.3 million loan for a cement plant construction project

Commitments (Constant USD, 2023)$3,511,617
Commitment Year•2017Country of Activity•UzbekistanDirect Recipient Country of Incorporation•UzbekistanSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2017

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

This cement plant is located in Samarkand region of Uzbekistan. More detailed locational information can be found at: https://www.openstreetmap.org/relation/196249

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

State-owned Banks

  • National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)

Implementing agencies

State-owned Banks

  • National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)

Loan desecription

CDB provides $3.3 million loan for a cement plant construction project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2017, China Development Bank provided a $3.3 million loan to National Bank for Foreign Economic Activity of Uzbekistan for the construction of a cement factory in Samarkand region with the capacity to produce 500-700 tons of cement a day. National Bank for Foreign Economic Activity of Uzbekistan used the proceeds of this loan to on-lend to another entity. Multiple Chinese EPC contractors were responsible for project implementation, including China Gezhouba Group Overseas Investment Co., Ltd., China Gezhouba Group Cement Co., Ltd. and Gansu Hengya Cement Co., Ltd. After an alleged misallocation of funds, the Chinese firm's EPC turnkey contract faced possible termination. It then obtained legal counsel (Kosta Legal), but the dispute was ultimately resolved by 2019. Construction still stalled with Uzbekistan receiving more funds for the project up through 2020. On December 15th, 2021, the commencement ceremony for the start of construction occurred.