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ICBC DIFC Branch contributes to $26 million loan to Mota-Engil Perú S.A. for working capital purposes
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Mota-Engil Peru, S.A. |
| Country | Peru |
| Start Date | Dec 29, 2017 |
| End Date | Nov 16, 2030 |
| Duration | 4,705 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 95678 |
Grant Description
ICBC contributions to USD 26 million loan to Mota-Engil Perú S.A. for working capital purposes in 2017 On December 29, 2017, Mota-Engil Perú S.A. — a subsidiary of the Mota Engil Group that provides construction, engineering and mining services — secured a $26 million loan and a PEN 12.4 million loan from the Dubai International Financial Centre (DIFC) Branch of the Industrial and Commercial Bank of China Limited and ICBC Perú Bank S.A.
However, it is known that Mota-Engil Latin America BV, established in Amsterdam, issued a corporate repayment guarantee.
The loan is secured by (i.e. collateralized against) a pledge agreement over banks accounts, an asset trust, among others.
Staff Comments
- Mota-Engil Peru, S.A. provides construction, engineering, and mining services; and it sells construction and mining equipment. The company is a subsidiary of Mota Engil Group, the leading Engineering and Construction Group of Portugal. Mota Engil Peru began operating in 1986 under the name Translei, focusing on infrastructure projects in mining and road transport sectors as well as services for Buildings and Concessions. It was purchased by Mota & Compania and Engil (now Mota Engil Group) in 1998 and 1999.
- The individual contributions from the DIFC Branch of ICBC and ICBC Peru Bank are unspecified. For the time being, AidData assumes that each bank provided equal contributions.
- The contribution from ICBC DIFC Branch to the PEN 12.4 million loan is captured via Record ID #95679.
Sources & References
- Marco Alarcon
- Mota-Engil Perú’s $26 Million and PEN 12.4 Million Loans
- Mota-Engil Perú recibe préstamos en dólares y soles de ICBC y filial 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
Mota-Engil Peru, S.A.
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