Anhui Conch to resume Indonesian project with US$240m credit

Anhui Conch to resume Indonesian project with US$240m credit
27 November 2017

Anhui Conch Cement has issued guarantees for loans likely to include US$90m facility provided by the company’s Indonesian branch, according to Anhui Conch investor relations. This is in addition to the 10-year US$151.5m loan applied for by its subsidiary Pabrik Semen China Conch from the Export-Import Bank of China (EIBC) in support of the planned resumption of the development of Pabrik Semen China Conch in Inobonto, North Sulawesi.

The project, which the Chinese cement producer initiated in 2016, will see the construction of a cement plant with a clinker capacity of 5000tpd and a cement capacity of 4.4Mta. It will also include a 2x9MW waste heat-to-energy (WHTE) facility. The resumption follows a suspension in June earlier this year due to an incomplete environmental impact assessment and workforce visa issues, according to a local media report.

Elsewhere in southeast Asia, Anhui Conch Cement will accelerate the construction of cement plants in Vientiane and Luang Prabang, Laos, as well as in Mandalay, Myanmar, in 2018. For the 2.2Mta Mandalay works, the company is currently looking for WHTE and online monitoring contractors.

Price rises are also on the cards in the region, said the company’s investors relations department.

Published under Cement News