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Overview

China Construction Bank contributes to a $73 million syndicated loan for Tay Ninh Textile Complex Development Project (Linked to Record ID#98822)

Commitments (Constant USD, 2023)$36,729,815
Commitment Year•2018Country of Activity•Viet NamDirect Recipient Country of Incorporation•Viet NamOverseas Jurisdiction•Viet NamSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2018
Start (actual)
Dec 1, 2018
End (planned)
Jun 30, 2020
End (actual)
Nov 1, 2020

Geospatial footprint

Map overview

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The purpose of the project was to construct a 330,000 square-meter plant in Phuoc Dong Industry Park (also known as Phuoc Dong Industrial Zone) in Tay Ninh province with an annual production capacity of 110,000 tons.. More detailed locational information can be found at https://www.openstreetmap.org/way/1161522139 and https://www.google.com/maps/place/Cty+TNHH+HAILIDE+(VI%E1%BB%86T+NAM)/@11.1931248,106.3448316,15z/data=!4m5!3m4!1s0x0:0xc3a37fb922a3b192!8m2!3d11.1931248!4d106.3448316

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

  • China Construction Bank Corporation (CCB)

Cofinancing agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Hailide (Vietnam) Co., Ltd

Loan description

CCB and China Eximbank contribution to $73 million syndicated loan for Tay Ninh Textile Complex Development Project in 2018

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2018, the HCMC Branch of China Construction Bank Corporation (CCB) and the Export-Import Bank of China issued a $73 million syndicated loan to Hailide (Vietnam) Co., Ltd [Chinese: 海利得（越南）有限公司] — a special purpose vehicle and wholly-owned subsidiary of Zhejiang Hailide New Material Co., Ltd. — for the Tay Ninh Textile Complex Development Project. Record ID#96463 captures CCB's contribution and Record ID#98822 captures China Eximbank's contribution. The purpose of the $155 million project was to construct a 330,000 square-meter plant in Phuoc Dong Industry Park (also known as Phuoc Dong Industrial Zone) in Tay Ninh Province with an annual production capacity of 110,000 tons. The plant consists of solid-state polymerized and differential polyester industrial filament production lines equipped with supporting facilities, a warehouse, and public utility equipment. Project implementation commenced in December 2018. The project was originally expected to reach completion in mid-2020. However, it was ultimately completed in November 2020.

Staff comments

1. The Chinese project title is 浙江海利得新材料股份有限公司在越南年产11万吨差别化涤纶工业长丝（一期）项目 or 在越南年产11万吨差别化涤纶工业长丝（一期）项目. The Vietnamese project title is phát triển khu phức hợp dệt sợi trị của Hailide tại Tây Ninh. 2. China Eximbank and China Construction Bank are the only known members of the loan syndicate. This issue warrants further investigation. 3. The individual contribution of two lenders to this $73 million USD syndicated loan is unknown. For the time being, AidData has estimated the contribution of CCB and China Eximbank by assuming that each lender contributed an equal amount ($36,500,000 USD) to the syndicated loan.