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ICBC provides $100 million loan for Laos Potash Mine Expansion Project (Linked to Record ID#64269, 64228, 64227)
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Lao Kaiyuan Mining Co., Ltd |
| Country | Lao People's Democratic Republic |
| Start Date | Jun 29, 2023 |
| End Date | Jul 09, 2027 |
| Duration | 1,471 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 106661 |
Grant Description
ICBC provides $100 million loan for Laos Potash Mine Expansion Project In 2023, the Vientiane Branch of the Industrial and Commercial Bank of China (ICBC) issued a $100 million loan to Lao Kaiyuan Mining Co., Ltd. (老挝开元矿业有限公司) — a special purpose vehicle and wholly-owned subsidiary of Sichuan Huiyuanda Potash Co., Ltd. — for the Laos Potash Mine Expansion Project.
The loan carries an 8-year maturity.
However, it is known that the borrower purchased a Sinosure credit insurance policy, which was issued on June 29, 2023.
The loan is also backed by a corporate guarantee from Qingdao East Steel Tower (东方铁塔) and collateralized against Sichuan Huiyuanda Potash Co., Ltd.’s 100% equity stake in Lao Kaiyuan Mining Co., Ltd. The purpose of the project was to expand a mine in Thakhek district and Khammouane Province.
Upon completion, the project is expected to increase the mine’s capacity to produce potassium chloride by 1.5 million tons per each year. The project commenced on December 31, 2021 and was completed in April 2023.
Staff Comments
- Lao Kaiyuan Mining Co., Ltd. is a 100% Chinese owned enterprise with mining operations located in Khammouane Province, Lao PDR. The company is currently developing Asia’s largest potash mine in terms of proved and probable potash reserves. The company is a subsidiary of Kaiyuan Potash Group Limited, a Hong Kong registered entity.
- The project is also known as the Potash Fertilizer Reconstruction And Expansion Project. The Chinese project title is 老挝甘蒙省钾镁盐矿150万吨氯化钾项目一期工程（50万吨）”项目 or 老挝开元150万吨氯化钾扩产项目一期工程 or 老挝开元钾肥项目.
- Sichuan Huiyuanda Potash Co., Ltd. (四川省汇元达钾肥有限责任公司) is a wholly-owned subsidiary of Qingdao East Steel Tower (东方铁塔).
Sources & References
- Potash fertilizer project of Asia-potash International listed in Belt and Road case study
- China’s Asia-Potash to Sell Up to USD281 Million of Convertible Bonds to Fund Laos Project Expansion
- 德恒助力上市公司亚钾国际完成重大资产重组
- 湄公河畔“一带一路”情缘：老挝建起钾肥小镇 亚钾模式走深走实
- 老挝开元二期50万吨/年氯化钾项目正式投运 中蓝长化承担设计
- 青岛东方铁塔股份有限公司发行股份及支付现金购 买资产并募集配套资金暨关联交易报告书(修订稿) 摘要
- 中国信保承保老挝开元甘蒙省钾镁盐矿150万吨氯化钾一期工程项目
- 中国信保承保老挝开元甘蒙省钾镁盐矿150万吨氯化钾一期工程项目
- 东方铁塔：2023年三季度报告
- 东方铁塔：关于境外全资子公司氯化钾扩产项目达产的进展公告
- 亚钾国际百万吨钾肥项目延期达产 钾肥跌价毛利率下行
- 融资难致老挝二期项目进展迟缓，东方铁塔定增能否解困
- Oriental Tower: Laos potassium chloride expansion project has been fully started
- 东方铁塔：老挝开元150万吨氯化钾扩产项目一期工程
- 老挝开元二期150万吨氯化钾项目一期工程开工典礼隆重举行
- 东方铁塔：关于为境外全资子公司银行贷款提供担保的公告
- 东方铁塔：独立董事对担保等事项的独立意见
- 对外担保
- 青岛东方铁塔股份有限公司关于为控股子公司提供担保的进展公告
- 证券代码：002545 证券简称：东方铁塔 公告编号：2023-035
- Asia-Potash International Offers Amply Rewards to Celebrate its Incorporation of 48.52 km² Potassium Ore into the Company’s Resource Map
- 青岛东方铁塔股份有限公司 关于对深圳证券交易所重组问询函的回复的公告
- 青岛东方铁塔股份有限公司发行股份及支付现金购 买资产并募集配套资金暨关联交易报告书 (修订稿)
- 东方铁塔 6倍溢价收购“亏损”资产 产能过剩或前景堪忧 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
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Lao Kaiyuan Mining Co., Ltd
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