Overview

ICBC provides $22 million loan to Mota-Engil Perú S.A. for working capital purposes

Commitments (Constant USD, 2023)$22,698,144

Commitment Year•2020Country of Activity•PeruDirect Recipient Country of Incorporation•PeruOverseas Jurisdiction•United Arab EmiratesSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Feb 1, 2020

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

Mota-Engil Peru, S.A.

Implementing agencies

Private Sector

Mota-Engil Peru, S.A.

Collateral providers

Private Sector

Mota-Engil Latin America BV

Loan description

ICBC provides $22 million loan to Mota-Engil Perú S.A. for working capital purposes

Interest type•Unknown

Collateral

Pledge over banks accounts and an asset trust

Narrative

Full Description

Project narrative

In February 2020, Mota-Engil Perú S.A. — a subsidiary of the Mota Engil Group that provides construction, engineering and mining services — secured a $22 million loan from the Dubai International Financial Centre (DIFC) Branch of the Industrial and Commercial Bank of China Limited The borrowing terms of the loan are unknown. However, it is known that the loan is secured by (i.e. collateralized against) a pledge agreement over banks accounts and an asset trust.

Staff comments

1. Mota-Engil Peru, S.A. provides construction, engineering, and mining services; and it sells construction and mining equipment. The company is a subsidiary of Mota Engil Group, the leading Engineering and Construction Group of Portugal. Mota Engil Peru began operating in 1986 under the name Translei, focusing on infrastructure projects in mining and road transport sectors as well as services for Buildings and Concessions. It was purchased by Mota & Compania and Engil (now Mota Engil Group) in 1998 and 1999.