Bank of China provides $1.8 million buyer’s credit loan for Qeshm Cement Factory Construction Project

In 2005, Bank of China issued a buyer’s credit loan worth $1,871,683.61 for the Qeshm Cement Factory Construction Project. This loan carried a 10 year maturity, but its interest rate and grace period are unknown. The purpose of the project was to construct a cement factory at the 7th km of Dargahan-Ramkan Road on the Island of Qeshm. The project was undertaken in two phases. The first phase was undertaken in 2000 and it involved the installation of a cement mill with the capacity to produce 350 tons of cement per day. The second phase, which involved the construction of a cement factory capable of producing 900 tons of cement per day, was completed in early 2005 and it began operations later that year.

Additional details

1. The Chinese project title is 伊朗QESHM水泥厂项目. The Persian project title is کارخانه سیمان قشم. 2. The borrower of the loan may have been Qeshm Cement Company, but this issue requires further investigation. 3. The loan commitment year is uncertain. It is currently set to 2005 because that is the year when Bank of China disclosed the loan.

Number of official sources

3

Number of total sources

5