World Bank Group studies investment in cement plant in Bissau

13 January 2015

The World Bank Group is analysing the possibility of financing a cement factory project in the capital of Guinea-Bissau, with a production capacity of 200,000 tons per year, according to Portuguese news agency Lusa.

The project is headed up by Senegalese businessman, Maxime Cardoz and by Scancem, a subsidiary of HeidelbergCement, a German cement and building materials company, which is one of the world’s largest cement manufacturers.

Those interested in building the plant requested a loan of 11 million euros, half the cost of the project and a decision is expected by the end of February.

The International Finance Corporation (IFC) – part of the World Bank Group which is examining the project – said in a document to which Lusa had access that the aim is to replace imported cement in the Guinean market, and notes that in the future the plant may supply cement to regions of neighbouring countries, such as southern Senegal and northern Guinea-Conakry. (macauhub/GW)