CDB provides EUR 120 million loan for Automobile Mould & Die Manufacturing Project and Truck Axles Manufacturing Project

In June 2012, China Development Bank issued an EUR 120 million loan to the Government of Myanmar for the Automobile Mould & Die Manufacturing Project and Truck Axles Manufacturing Project. The proceeds of the loan were to be used by the borrower to finance an EPC contract that the Government of Myanmar signed with CATIC Beijing Co., Ltd. The purpose of the project was to build an axle manufacturing line and an automobile mould and die manufacturing line — for light, medium and heavy trucks — in the city of Naypyidaw. The Myanmar axle and mold production line project was signed in June 2012 and started in the same year. The project commenced during the second half of 2012 and the automobile mould and die manufacturing line was inaugurated in June 2015. The project secured a final acceptance certificate (FAC) on March 30, 2016. This project is also known as the Myanmar Axle and Mold Production Line Project or the Automobile Mould & Die Manufacturing Project and Truck Axles Manufacturing Project. The Chinese project title is 缅甸车桥和模具生产线项目. The Burmese project title is ကâန်တင်ယာဉ်ဘီးဝင်ရိâးနှင့်äမာ်äတာ်ယာဉ်မိâလ်နှင့်ဒိâင်ထâတ ်လâပ်မ Ăစီမæကိန ်း။

Number of official sources

7

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10