HELP CMD SHINE A LIGHT ON CORRUPTION!

Thanks to a $50,000 challenge grant, your gift will be matched 1-to-1, so every dollar you give today will go twice as far!
GIVE TODAY!

Export-Import Bank of China

From SourceWatch
Jump to: navigation, search

The Export-Import Bank of China is a state bank solely owned by the Chinese government.

Overseas coal projects

Sri Lanka

Lakvijaya Power Plant is a proposed 900 megawatt (MW) coal-fired power station in the Puttalam District of the Northwestern Province in Sri Lanka. It would be Sri Lanka's first coal power plant. The first 300 MW phase of the plant was commissioned in March 2011. The Chinese government thorough the Export-Import Bank of China provided US$ 455 million for the Lakvijaya plant. Coal for the plant was to be supplied from Indonesia.[1] [2][3] In August 2011, the Export-Import Bank of China offered an $891 million loan to build the second phase of 600 MW.[4]

Vietnam

In late 2010 Electricity of Vietnam announced that it had signed an agreement with the Export-Import Bank of China for US$300 million in financing for the second stage of the Vinh Tan power station, which it began construction of in August 2010. A Vietnamese media report stated that "the first of the plant's two turbines is expected to be operational in December 2013 with the second to follow in June 2014." It was reported that at the groundbreaking ceremony the Deputy Prime Minister Hoang Trung Hai stated that the construction of coal-fired plants would reduce the national electricity grid's dependence on hydroelectric power plants.[5]

Russian Federation

En+ is owned by the Russian billionaire Oleg Deripaska.[6][7] A wholly owned subsidiary is En+ Coal.

In June 2010 En+ announced that it had signed an agreement with the Export-Import Bank of China on financing for mining and power projects in Eastern Siberia. In a media release En+ stated that China Eximbank would provide funding of up to $US5 billion "for the construction of power generation plants" in Eastern Siberia with over 3 gigawatts of installed capacity and the "development of coal fields" in the Republic of Tuva as well as other projects in Eastern Siberia. The company stated that "it is expected that a big portion of the output of new projects will be supplied to the Asian markets given the long-term growing demand for commodities in Asia."[8]

Contact details

Website: http://english.eximbank.gov.cn/

Articles and resources

References

  1. Shirajiv Sirimane, "Two major development projects from November", Sunday Observer, October 24, 2010.
  2. [March%2021%202011 "President to declare open Lakvijaya tomorrow"] Sunday Observer, March 21, 2011.
  3. "First phase of Sri Lanka's first coal power plant to be opened tomorrow" ColomboPage, March 21, 2011.
  4. "Factbox: China-Sri Lanka economic ties" Reuters, Aug. 9, 2011.
  5. "Chinese in US$300 million power deal", VOV News, December 21, 2010.
  6. "Oleg Deripaska appointed as President of En+ Group", Media Release, July 8, 2011.
  7. Catherine Belton and Robert Cookson, "En+ to strengthen ties with China", FT.com, June 17 2010.
  8. En+, "En+ Group and Export-Import Bank of China Sign US$5bln Cooperation Agreement for development of mining and power projects", Media Release, June 16, 2011.

Related SourceWatch articles

External resources

External articles