[Cancelled] China Eximbank provides $192.7 million preferential buyer’s credit for Amkodor-Mash Factory Construction Project

On May 15, 2017, China Eximbank and the Government of Belarus signed a $192,713,700 preferential buyer’s credit (PBC) loan agreement [CHINA EXIMBANK № PBC 2017 (2) TOTAL № (428)] for the Amkodor-Mash Factory Construction Project. The PBC carries the following terms: a 20 year maturity and a 2% interest rate. The Government of Belarus on-lent the loan proceeds to JSC Amkodor, a state-owned manufacturer of road construction vehicles, utility machinery, snow-removing, timber industry, agricultural machines and other special vehicles. JSC Amkodor was then to use the loan proceeds to finance a commercial contract with CITIC Construction Co., Ltd.. T he new Amkodor-Mash plant was to be built in the town of Kolodischi along Promyshlennaya Street, where a number of manufacturing enterprises are located. The size of the construction area was 18.0238 hectares. Parking places for 160 cars were to be situated near the plant. The project envisaged the construction of 4 production buildings and the modernization of two existing buildings, a metal shop with production sites, warehouses, a test site, construction and modernization of administrative buildings. The factory was expected to produce 6,000 pieces of machinery per year — 500 per month or almost 24 per day. The factory was also expected to provide around 1,500 jobs and work in 2 shifts. However, in 2019, the Government of Belarus terminated the loan agreement that it contracted with China Eximbank in 2017 after the construction of the plant sparked protests from local residents.

Additional details

The Russian project title is «Строительство завода по выпуску специальных машин в пос. Колодищи Минского района».

Number of official sources

6

Number of total sources

15