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Bank of China provides EUR 175 million buyer's credit for Cocoa Bean Processing Plant Construction Project
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | Government of Côte d'Ivoire (Ivory Coast) |
| Country | Cote d'Ivoire |
| Start Date | May 05, 2020 |
| End Date | Mar 13, 2033 |
| Duration | 4,695 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 92285 |
Grant Description
Bank of China provides EUR 175 million buyer's credit for Cocoa Bean Processing Plant Construction Project On May 5, 2020, Bank of China and the Government of Côte d'Ivoire signed an EUR 175 million (CFA 114,792,475,000) buyer’s credit loan agreement for the Cocoa Bean Processing Plant Construction Project.
The borrower was expected to use the proceeds of the loan to partially finance an EUR 190 million (RMB 1.48 billion) commercial (EPC) contract between China Light Industry Design Engineering (CNDC) and Conseil du Café-Cacao, which was signed on December 17, 2019. By December 31, 2023, the loan had achieved a 85.1% disbursement rate (CFA 97,776,950,420 out of CFA 114,792,475,000).
Four disbursements took place in 2022 and 2023; a CFA 27,550,194,000 disbursement on January 31, 2022, a CFA 37,389,549,000 disbursement on April 30, 2022, a CFA 14,483,530,560 disbursement on August 31, 2023, and a CFA 18,353,676,860 disbursement on September 30, 2023.
The purpose of the project is to construct two Transcao cocoa bean processing plants in Abidjan and San-Pedro, including a cocoa complex located in the PK24 industrial park in northern Abidjan and the Transcao-Seweke cocoa complex in San-Pedro. Each plant is expected to have a capacity of 50,000 tons of beans annually.
Along with the plants, two storage warehouses with 300,000 tons capacity are planned to be constructed. After construction, China is planning to absorb 40% of the factories' cocoa production.
This project is a part of a goal laid out by the Government of Côte d'Ivoire to process 100% of its cocoa beans by 2025.
CNDC, a unit of China Haisum Engineering Co., Ltd. was the EPC contractor responsible for construction of the two plants. The construction for the Abidjan plant officially commenced on September 20, 2020. The construction of the San-Pedro plant officially commenced on October 20, 2022. The project’s originally expected completion date was December 31, 2022.
However, it was ultimately completed in February 2025. An official project handover ceremony took place on June 26, 2025.
Staff Comments
- The Chinese project title is 科特迪瓦阿比让可可豆加工厂和仓库建设项目 . The French project title is Projet de construction d'une usine de transformation de fève de Cacao or PCCIT _ Projet de construction d'un complexe industriel TRANSCAO - Usine de transformation de fève de Cacao _ Crédit acheteur.
- The system identification number for this project in the Government of Côte d'Ivoire’s Aid Management Platform (AMP) is 1120071337135.
- Côte d'Ivoire's Conseil du Café-Cacao is a government agency responsible for the management of the country's cocoa sector and its promotion at the regional and international level.
- One official source (https://sw.rednet.cn/content/2021/11/02/10355686.html) indicates that the project was financed on an EPC+F basis.
Sources & References
- Projet de construction d'une usine de transformation de fève de Cacao _ Crédit acheteu
- The Ivorian govt launches construction of two cocoa processing plants
- Can China help African cocoa producers outmanoeuvre Big Chocolate?
- Côte d’Ivoire builds $100m factory in bid to process entire cocoa harvest
- Ivory Coast to boost cocoa processing with 2 new factories
- China's Haisum Unit to Build USD441 Million Cocoa Plants in Cacao Hub Ivory Coast
- Côte d'Ivoire : un complexe industriel de transformation du cacao en construction à Abidjan
- Côte d’Ivoire : Construction d’une usine de transformation de cacao à 108 millions $
- Construction de l’usine de transformation de cacao: Kobenan Kouassi Adjoumani satisfait de l’avancement des travaux
- Projet de construction d'un complexe industriel TRANSCAO
- AMP April 2024 Record -- PCCIT _ Projet de construction d'un complexe industriel TRANSCAO - Usine de transformation de fève de Cacao _ Crédit acheteur
- 中国海诚(002116.SZ)：收到业主发来的关于阿比让可可加工厂和可可豆仓库建设项目开工令
- 中非·案例方案典范丨科特迪瓦可可加工厂的正能量
- Nouvelle dette signée - 2020 à 2022 int - ext
- 中国海诚：“科特迪瓦阿比让可可豆加工厂和仓库”建设项目施工安装已接近尾声
- 中国海诚阿比让可可加工厂和可可豆仓库建设项目正式施工, 【务实合作】中企承建科特迪瓦最大自有可可加工厂——助力科特迪瓦可可产业加速发展
- China and the chocolate factory: investment in Ivory Coast helps secure a cocoa edge
- 中国信保持续推动中非经贸合作
- World-class manufacturing facilities, located at the source.
- Côte d’Ivoire Inaugurates TRANSCAO PK 24 Industrial Complex - Cote DIvoire-Ghana Cocoa Initiative
- Inauguration de l'usine de transformation de cacao
- TRANSCAO CI par le Vice Président de la République Tiemoko Meylet Koné. 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.
All Grantees
Government of Côte d'Ivoire (Ivory Coast)
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