China Eximbank syndicate provides $320 million in overseas investment loan for Phase 4 of Sulawesi Mining Power Station Project in Morowali Industrial Park (Linked to Project ID#66200, #66207, #66216, #69488)

On February 28, 2017, China Eximbank's Zhejiang branch and Shanghai branch signed a syndicated loan agreement of $320 million for Phase 4 of Sulawesi Mining Power Station Project in Morowali Industrial Park with PT. Indonesia Ruipu Nickel And Chrome Alloy. The purpose of the project was to construct a high-carbon ferro chrome and stainless steel cold rolling plant, occupying 40 hectares with an annual output of 600,000 tonnes of high-carbon ferro and 700,000 tonnes of stainless steel cold rolls. The total project cost is $460 million. The project implementor is PT. Indonesia Ruipu Nickel and Chrome Allow Company (IRNC or 印尼瑞浦镍铬合金有限公司). The project has entered implementation, though the implementation start date is unknown. CDB financed Phase 1 of the Sulawesi Mining Power Station Project in Morowali Industrial Park (as captured via Project ID#66200). China Eximbank, ICBC, and Bank of China financed Phase 2 of the Sulawesi Mining Power Station Project in Morowali Industrial Park (as captured via Project ID#66207). CDB and Bank of China financed Phase 3 of the Sulawesi Mining Power Station Project in Morowali Industrial Park (as captured via Project ID#66216 and ID#69488).

Additional details

1. The Chinese project title is 印尼瑞浦镍铬合金有限公司年产60万吨铬铁(配套热回收焦化)及70万吨不锈钢冷轧项目. 2. This loan is appears to be separate from the loan that China Eximbank is in 2018 (captured via Project ID#69371).

Number of official sources

2

Number of total sources

5