CJIC provides $16.94 million bridge loan for 330kV Kabwe-Pensulo Second Transmission Line Project (Linked to Project ID#72967)

On August 20 2018, China Jiangxi Corporation for International Economic and Technical Cooperation (CJIC) provided a $16.94 million bridge loan (supplier’s credit) to ZESCO — a state-owned power company in Zambia — for the 330kV Kabwe-Pensulo Second Transmission Line Project. The loan carried the following borrowing terms: a 1.33 year maturity (16 months), no grace period, and a 10% interest rate. The balance of the loan, as of December 31, 2019, was $10.6 million. This project involved the construction of a 300 km, 330 kV second transmission line to improve the security and reliability of the supply of electricity between the Pensulo substation and the town of Kabwe. CJIC is the contractor responsible for implementation. Construction began on November 21, 2019. The project had reportedly achieved a 70% completion rate as of October 8, 2020. The originally expected project implementation commencement and conclusion dates were March 15, 2019 and December 30, 2020, respectively.

Additional details

1. This project is also known as the Kabwe-Pensulo Second Transmission Line, 330kV - Bridging Finance Project. The Chinese project title is 卡布韦至潘索罗330千伏输变电项目 or 赞比亚ZESCO输变电项目 or 330千伏输变电项目. 2. In 2018, China Eximbank and ZESCO — a state-owned power company in Zambia — signed a $114,138,082.756 loan agreement for the 330kV Kabwe-Pensulo Second Transmission Line Project (captured via Project ID#72967).

Number of official sources

17

Number of total sources

23