Italcementi obtains EBRD loan for plant revamp

Italcementi obtains EBRD loan for plant revamp

The Italcementi Group has signed an agreement with the European Bank for Reconstruction and Development (EBRD) granting it a loan for approximately EUR20m to fund the modernisation of the Shymkent cement plant in southern Kazakhstan.

In addition to the loan, the EBRD will make an investment of approximately EUR4m in Shymkentcement, for an equity stake of around 21 per cent.

The project, arranged under the EBRD policy to support energy efficiency initiatives in Kazakhstan, will replace the four wet-process lines currently operating at the cement plant with a new dry-process line.

The state-of-the-art technology to be employed will enable the plant to boost efficiency and achieve a significant reduction in emissions, according to Italcementi.

Construction work has already reached an advanced stage. The new plant, with a production capacity of approximately 1.2Mta of cement, is expected to begin operations in early 2016.