Kioo Glass (IFC-38664)

Countries
  • Tanzania
Where the impacts of the investment may be experienced.
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
Proposed
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.
Borrower
Kioo Ltd
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 21.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 14, 2017

Disclosed by Bank Apr 13, 2017


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Project Description
The project involves a US$21 million loan to Kioo as corporate finance to support the company’s planned capital investment program in its existing plant in Dar es Salaam, Tanzania. Kioo’s existing furnaces will come up for refurbishment entailing major capital expenditures. There will also be investments made in new machinery and in technology to reduce emission levels and to increase energy efficiency and expand output/capacity. Additionally, there will be other capital expenses including the acquisition of transport equipment, installation of a modern, energy efficient and improved technology sieve sand processing plant and various upgrades to the existing facilities.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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