Washington-based International Finance Corporation, has signed a loan for US$10.8m to BSA Ciment SA, a Mauritanian company, to support the construction of a modern concrete production plant in Mauritania’s capital, Nouakchott. IFC’s financing will help a local firm increase domestic cement production at a time when consumption is expected to rise significantly, as Mauritania starts producing oil this year
The plant will produce ready-mixed concrete, which can be used directly at construction sites without requiring on-site concrete mixing. This is expected to reduce waste and ensure consistent construction quality in the West African country
THE IFC Director for Global Manufacturing and Services, Dimitris Tsitsiragos, said, "Access to reasonably priced building materials is a key requirement for growth in developing economies like Mauritania, where large investments in physical infrastructure are expected in the near future." Chairman and Managing Director of BSA Ciment, Mohamed Bouamatou, said, "IFC’s loan will provide the long-term financing the project needs. We also appreciate the support IFC is providing on the technical aspects of the project."