News Release
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The KAFULAFUTA Water Supply System Project in Zambia Come Into Effect Formally

Release time:2017-08-17 Article source: Reading times: A+AA-

The Zambian Ministry of Finance paid to our corporation the first advance payment of about 67.36 million US dollarsin June 23, 2017, and the project came into effect formally on the same day.In August 2017, the Zambian Ministry of Finance paid the second start-up charge to our corporation for a total of approximately 68.44 million US dollars.Until now, the cumulative collection of the project is about 135 million US dollars, accounting for 30% of the total amount of the contract, and the flowcash of project is abundant.

The business contract of the KAFULAFUTA water supply system project, Zambia signed in February 2016, and the total contract amount is about 449 million US dollars, the construction period is 42 months, contracted by our corporation as the EPC general contract.The project obtained the insurance policy provided by China Export & Credit Insurance Corporation on March 27, 2017, andthe commercial loans provided by Standard Chartered Bank and Bank of China.The financing model of this project won the “2016 Global Best Deals” awarded by “Global Deals Review”in London.

At present, the preparatory work of the project is carrying out steadily and orderly, exploration and design work has been started, and expecting to start construction officially by the end of 2017.



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