IFC to develop Kenya and Uganda‘s construction sector with $97 million
Thursday, 05 April 2018 15:44
(Ecofin Agency) - International Finance Cooperation (IFC) plans to grant KSh9.7 billion ($97 million) as debt and equity to the National Cement Company Ltd, a Kenyan company in which the financial institution holds 15% of the shares.
“This project involves the construction of two grinding plants in Uganda and Kenya, and one clinker line and eight megawatts power plant in Merrueshi, Kenya,” IFC said to local media.
Thanks to this investment the company is expected to increase its yearly clinker production capacity from 1.1 million tons to 2.9 million tons and enhance competitiveness by lowering the price of cement bag in the country.
Chamberline Moko
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