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Signature(s)

Amount
€ 12,498,958
Countries
Sector(s)
Algeria : € 12,498,958
Industry : € 12,498,958
Signature date(s)
25/06/2004 : € 12,498,958
Link to source

Summary sheet

Release date
30 July 2004
Status
Reference
Signed | 25/06/2004
20040075
Project name
Promoter - financial intermediary
Algerian Cement Company – Phase II
Orascom Construction Industries (Egypt).
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 25m.
Approximately EUR 150m.
Location
Sector(s)
Description
Objectives

The Project concerns the installation and operation of an additional production line at an existing cement plant. The first production line, a greenfield project developed over the last two years, has been fully operational since March 2004 and is Algeria’s first, privately owned cement producer.

Using local raw materials and energy resources, the Project offers relief to the shortage of cement by replacing imports with higher domestic production. The Project will strengthen the first private sector operation in the Algerian cement industry, provide significant added value to the local economy and create additional jobs.

Environmental aspects
Procurement

The implementation of a second production line at the same site will not significantly change the impact on the environment with respect to the existing first line; such impact has been assessed as acceptable. Further due diligence is underway.

The Project will be developed under a turnkey contract, awarded to the same consortium, which has developed the first production line. Using the same consortium that developed the first line should result in higher efficiency and will benefit the Project.

Comments

Construction materials.

Link to source

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).

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