Tema Grinding Plant

Clay Calcination Project (Tema grinding plant in Accra) - EKF Backed Loan

Borrower (s)
Tema Grinding Plant
Industry
Manufacturing & equipment/Cement
Area of finance
Project & Infrastructure Finance
Region
Africa
Countries
Ghana

Deal Overview

Continental Blue Investments Ghana (CBI Ghana) has raised an ECA-backed facility for its Clay Calcination project (a low carbon cement plant). The debt – and a $27.9 million equity investment by Norfund and IFU in the sponsor – will fund CBI Ghana’s plan to roughly triple cement...

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Continental Blue Investments Ghana (CBI Ghana) has raised an ECA-backed facility for its Clay Calcination project (a low carbon cement plant). The debt – and a $27.9 million equity investment by Norfund and IFU in the sponsor – will fund CBI Ghana’s plan to roughly triple cement production to 1.4 metric tons annually, alongside building a 405,000 tons per annum clay calcination unit, the world’s largest calciner system to date.

The $51.9 million 10-year debt for the scheme is being provided by Societe Generale as original lender, with cover from EKF. The deal is linked to exports by FLSmidth, which is supplying the technology and equipment for the project. The calcination project will enable the substitution of imported clinker with locally sourced clay, thereby reducing carbon emissions and providing cost advantage towards competition.

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Deal Volume
$51.92m
Financial Close
28 March 2022
Sources
Press release, Proximo article, Press release, TXF article, Submitted by participant(s)

All Dealmakers

Kobby Adams

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Philippe Le Roch

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Agnès Tauty-Giraldi

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Tine Bremholm–Kokfelt

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Agnes Deschenes Voirin

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Projects

Clay Calcination Project (Tema grinding plant in Accra)

Greenfield
Cement
Africa
Ghana
$79.82m