Release date: 30 June 2004
Promoter – Financial Intermediary
Magadi Soda Company LTDLocation
Description
Construction of a new soda ash plant of 365 000 tons annual capacity using innovative technology, largely replacing outdated capacity.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.
Objectives
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.
Comments
Minerals extraction and processing.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to USD 27 m
Total cost (Approximate amount)
USD 98 m.
Environmental aspects
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.
Procurement
A turnkey contract for construction of the plant was concluded with an experienced contractor, following international bidding.
Status
Signed - 7/04/2004
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).