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        MAGADI SODA PURE ASH PROJECT

        Signature(s)

        Amount
        € 21,950,218.56
        Countries
        Sector(s)
        Kenya : € 21,950,218.56
        Industry : € 21,950,218.56
        Signature date(s)
        7/04/2004 : € 1,654,718.56
        7/04/2004 : € 8,930,000
        7/04/2004 : € 11,365,500

        Summary sheet

        Release date
        30 June 2004
        Status
        Reference
        Signed | 07/04/2004
        20000279
        Project name
        Promoter - financial intermediary
        Magadi Soda pure ash project
        Magadi Soda Company LTD
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to USD 27 m
        USD 98 m.
        Location
        Sector(s)
        Description
        Objectives

        Construction of a new soda ash plant of 365 000 tons annual capacity using innovative technology, largely replacing outdated capacity. The soda ash is produced from trona dredged from the lake, where the company has been operating for over 80 years. It is used in the manufacture of glass, detergents and the chemical industry.

        Upgrading the product quality by reducing the level of residues from the natural resource and increasing alkalinity, in order to meet international markets’ top quality specifications.

        Environmental aspects
        Procurement

        The project will only moderately increase the promoter’s overall production of soda ash; refuges for water birds at the lake will remain untouched. An EIA has been established and the Kenyan Authorities confirmed that the project will not have significant negative impacts. Implementation of an EAP will be closely monitored.

        A turnkey contract for construction of the plant was concluded with an experienced contractor, following international bidding.

        Comments

        Minerals extraction and processing.

        Disclaimer

        Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
        They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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