Original disclosure @ IFC website
Updated in EWS Nov 16, 2022
Disclosed by Bank Nov 14, 2022
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According to bank provided information, the proposed investment consists of a US$130 million financing package to Al Douh Iraqi Company for Cement Industries LLC (the “Company” or “Al Douh”) based in Al Muthanna city, Iraq and specialized in cement production. The funds will be used to finance the expansion of Al Douh’s plant from 1.5 million ton (“mt”) to 3.5mt per annum of Sulphates Resistant Cement (SRC) and Ordinary Portland Cement (OPC), (“the Project”).
The Project cost is estimated at US$220 million and will be financed through a combination of Sponsors equity and debt financing. IFC is proposed to arrange a financing package of up to US$130 million comprising of an (i) IFC A loan of up to $65 million and (ii) a mobilization tranche of up to $65 million.
The Company is owned by members of the prominent Al Khawam family of Iraq with Mr. Hatam Al Khawam and Mr. Ali Al Khawam (the “Sponsors”) each owning 50% share. The Sponsors are well-respected and known members of Al Khawam family with over 20 years track-record of building successful businesses in Iraq and Jordan.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Al Douh Iraqi Company for Cement Industries LLC||Client||-|
Al Douh Company for Cement Industries LLC
Dr. Noor Al-Anbaki
Arar Mustafa Wahbi Al Tal St 213, Amman, Jordan. Fax: +962 658 0043
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