Karbala Cement Manufacturing Limited (IFC-32206)

Countries
  • Iraq
Where the impacts of the investment may be experienced.
Specific Location
Karbala
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 9, 2012
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
KARBALA CEMENT MANUFACTURING LTD.
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 12, 2018

Disclosed by Bank Apr 25, 2016


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Project Description

Karbala Cement Manufacturing Ltd (KCML) is an Iraqi company that entered in April 2010, into an agreement with the Government of Iraq for the leasing, rehabilitation and production-sharing of a state-owned cement plant in Karbala, southern Iraq for 15 years (starting October 2010). The project entails a loan to support development of Lafarge's 2.3 million ton per annum (mtpa) cement plant located near Karbala, Iraq. This is a follow-on investment to an investment IFC made in 2010 to support development of two cement plants in Iraq by Lafarge, including the one located near Karbala. The IFC loan will help KCML complete the rehabilitation of the cement plant. The rehabilitation work is being undertaken jointly by the original equipment supplier Polysius and Sinoma, an experienced Chinese EPC contractor.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

The project sponsor is Lafarge SA, one of the largest cement manufacturers globally. As of July 2015, it has merged with Holcim, another leading global cement manufacturer, to create LafargeHolcim. The new entity has sales of over USD24 billion and EBITDA of nearly USD5 billion, a presence in 90 countries, with over 180 cement plants and 374 mtpa of installed cement capacity. LafargeHolcim is listed on both the SIX (Zurich) and Euronext (Paris) exchanges. In the merger process, Lafarge SA has practically become a fully owned subsidiary of LafargeHolcim.

Contact Information

Karbala community engagement representative:
Mr. Mohamed Juhaishi
Security and PR Manager
Phone: +964.780.912.4343
Email: Mohamed.Juhaishi@LafargeHolcim.com

For local access of project documentation:
Karbala Cement Manufacturing Limited
A member of LafargeHolcim,
Dist 915, St 34, House 1/17,
Jadriya, Baghdad,
Iraq

 

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