AfDB provides loan to Diamond Cement Guinée

AfDB provides loan to Diamond Cement Guinée
30 May 2017

The African Development Bank has granted a US$22.5m loan to Diamond Cement Guinéa to finance a clinker production unit.

The new 0.5Mta plant will be built in Souguéta, some 200km from Conakry. Clinker from the works will be sent to grinding units in the outskirts of Conakry.

According to the agreement, the new unit will help to "reduce the cost of cement production on the one hand and make cement more accessible to the population,  while on the other hand, reduce dependence of the Guinean economy on imports of clinker ".

Sources close to the project indicate the the bank’s total commitments to parent company Wacem are around US$37.5m. The bank previously part-financed a 0.5Mta cement mill in the dry port of Conakry to the tune of US$15m.

Published under Cement News