EBRD to sign Albanian deal

EBRD to sign Albanian deal
Published: 09 September 2004

The European Bank for Reconstruction and Development (EBRD) said on Wednesday it would sign a deal to support Albania’s cement industry in the coming days.  The deal will be signed by the bank’s President Jean Lemierre, who starts a three-day official visit to the southeast European country on Wednesday.  "During the visit, Mr. Lemierre is expected to sign a deal that will support Albania’s cement industry, helping to meet the country’s growing demands and reducing the country’s reliance on cement imports," the bank said in a statement.

In May, EBRD said it would lend US$30m (24.5 million euro) to the cement factory Fushe Kruje in western Albania to boost production there through installation of a dry process cement line with an annual capacity of 1.3Mta. The new line would replace the plant’s imports of clinker.  The total cost of the project undertaken by the plant’s owner, the Lebanese cement group Seament, is $130m.