Agricultural Bank of China provides loan for Aluminum Alloy Radiator Production Line Equipment Project
Commitment amount
$ 30515792.940602947
Adjusted commitment amount
$ 30515792.94
Constant 2021 USD
Summary
Funding agency [Type]
Agricultural Bank of China (ABC) [State-owned Commercial Bank]
Recipient
Kyrgyzstan
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
Yes
Category
Project lifecycle
Description
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.
Additional details
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.
Number of official sources
3
Number of total sources
9
Details
Cofinanced
No
Direct receiving agencies [Type]
Tan Dem LLC [Joint Venture/Special Purpose Vehicle]