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Host Country: Pakistan |
Industry/Sector: Energy |
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Sponsor: China Power International Holding Limited and The Hub Power Company Limited |
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Borrower: China Power Hub Generation Company (Pvt.) Ltd. |
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Total Investment : USD 1.995bln |
Debt Amount: USD 1.496bln |
Financing Terms: 14 years |
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Purpose of Financing: |
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To construct 2×660MW coal fired units and a dedicated jetty terminal is constructed alongside the power plant to facilitate the import of coal. |
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Guarantee Structure: |
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Sponsors’ completion guarantee; pledge of shareholdings, assets, accounts, and electricity payment receivables, and Sinosure insurance policy etc. |
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Participating Banks and Roles: |
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China Development Bank, as lead arranger The Export-Import Bank of China, as co-lead arranger Industrial and Commercial Bank of China Limited China Construction Bank Corporation Bank of Communications Co., Ltd. |
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Overview and Highlight of Project: |
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China Power Hub Generation Company (Pvt.) Ltd. (CPHGC) 2×660MW imported coal based independent power generation project, is located at Hub, Balochistan Province, Pakistan. The project company CPHGC is a joint venture of China Power International Holding Limited, a company incorporated in Hong Kong, People’s Republic of China, holding 74% shares and the Hub Power Company Limited, a public limited company incorporated in Pakistan, with 26% shareholding. CPHGC invests to construct 2×660MW coal fired units and a dedicated jetty terminal is constructed alongside the power plants to facilitate the import of coal. The project is listed in the China Pakistan Economic Corridor (CPEC).
The total investment of the project is USD 1.995billion, 75% of the total investment is financed by a consortium of Chinese banks, China Development Bank, as lead arranger, The Export-Import Bank of China, as co-lead arranger Industrial and Commercial Bank of China Limited, China Construction Bank Corporation, Bank of Communications Co., Ltd.
The project achieved Financial Close in January, 2018. The project construction is progressing satisfactorily and is targeting to achieve Commercial Operations by the end of 2019. |
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Awards or Public Evaluation: |
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N/A |
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Other Information: |
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N/A |
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