Bank of China provides loan to Pemex (Linked to Project ID#91607)
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Mexico
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
Yes
Category
Project lifecycle
Description
On January 13, 2020, China’s Ambassador to Mexico, Zhu Qingqiao, reported that the Bank of China was providing a loan to Petróleos Mexicanos (PEMEX) for the Dos Bocas Refinery in the southeastern state of Tabasco, Mexico. The loan will be used to support operations of the refinery. The Industrial and Commercial Bank of China (ICBC) also provided financing to Dos Bocas Refinery. Information on that transaction is detailed in Project ID#91607. The total investment from both ICBC and the Bank of China is USD $600 million. The commitment date and financial terms of the loan from the Bank of China are unclear. The Dos Bocas Refinery is an $8 billion construction project designed to process 340,000 barrels of crude oil per day. Energy Minister Rocio Nahle reported that until this investment from China, the refinery was being financed with Mexican government funds.
Number of official sources
0
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Petróleos Mexicanos (PEMEX) [State-owned Company]