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Overview

Agricultural Bank of China provides loan for Aluminum Alloy Radiator Production Line Equipment Project

Commitments (Constant USD, 2023)$28,176,296
Commitment Year•2018Country of Activity•Kyrgyz RepublicDirect Recipient Country of Incorporation•Kyrgyz RepublicSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2018
End (planned)
Sep 1, 2018
End (actual)
May 1, 2019

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

  • Agricultural Bank of China (ABC)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Tan Dem LLC

Loan description

Agricultural Bank of China provides loan for Aluminum Alloy Radiator Production Line Equipment Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2018, Agricultural Bank of China (ABC) and Tan Dem LLC (ТАН-ДЕМ)— a special purpose vehicle and wholly owned subsidiary of Tmai Investment Holding (a Chinese company) — signed a foreign currency loan facility agreement for an Aluminum Alloy Radiator Production Line Equipment Project. The borrowing terms of the loan are unknown. The purpose of the $40 million project was to construct a factory for the production of bimetallic aluminum radiators in the free economic zone (FEZ) of Bishkek. The project was originally expected to reach completion by September 2018. However, it was postponed several times. The factory was ultimately launched and put into production in May 2019.

Staff comments

1. The precise monetary value of the foreign currency loan facility from Agricultural Bank of China is unknown. For the time being, AidData adopts the conservative assumption that the loan financed 70% ($28 million) of the $40 million project cost. This issue warrants further investigation.