Release date: 30 July 2004
Promoter – Financial Intermediary
Orascom Construction Industries (Egypt).Location
Description
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.
Objectives
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.
Comments
Construction materials.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 25m.
Total cost (Approximate amount)
Approximately EUR 150m.
Environmental aspects
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.
Procurement
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.
Status
Signed - 25/06/2004
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).