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Overview

ICBC DIFC Branch contributes to PEN 12.4 million loan to Mota-Engil Perú S.A. for working capital purposes

Commitments (Constant USD, 2023)$2,023,190
Commitment Year•2017Country 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
Dec 29, 2017

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)

Cofinancing agencies

State-owned Commercial Banks

  • ICBC Perú Bank S.A

Receiving agencies

Private Sector

  • Mota-Engil Peru, S.A.

Implementing agencies

Private Sector

  • Mota-Engil Peru, S.A.

Guarantors

Private Sector

  • Mota-Engil Latin America BV

Loan desecription

ICBC contributions to PEN 12.4 million loan to Mota-Engil Perú S.A. for working capital purposes in 2017

Interest type•Unknown

Collateral

Pledge agreement over banks accounts, an asset trust, among others

Narrative

Full Description

Project narrative

On December 29, 2017, Mota-Engil Perú S.A. — a subsidiary of the Mota Engil Group that provides construction, engineering and mining services — secured a $26 million loan and a PEN 12.4 million loan from the Dubai International Financial Centre (DIFC) Branch of the Industrial and Commercial Bank of China Limited and ICBC Perú Bank S.A. The borrowing terms of the loan are unknown. However, it is known that Mota-Engil Latin America BV, established in Amsterdam, issued a corporate repayment guarantee. The loan is secured by (i.e. collateralized against) a pledge agreement over banks accounts, an asset trust, among others.

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. 2. The individual contributions from the DIFC Branch of ICBC and ICBC Peru Bank are unspecified. For the time being, AidData assumes that each bank provided equal contributions. 3. The contribution from ICBC DIFC Branch to the USD $26 million loan is captured via Record ID #95678.