US$55m loan for new Congo cement plant

The Republic of Congo and the Export-Import Bank of India have signed an agreement for a US$55m loan to finance a new cement plant in Mafoubou/Tao Tao village in the Niari department with a term of three years.

The loan is payable over 25 years with a five-year grace period and at an interest rate of 1.75 per cent.

Three Indian companies have already bid for the tender launched by the Indian bank. However, details about the new plant have not been disclosed.