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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
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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Construction of a new soda ash plant of 365 000 tons annual capacity using innovative technology, largely replacing outdated capacity.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.

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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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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 Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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