PROJECT

Projects

Summary of Investment Information

Project Number

32206

Company Name

KARBALA CEMENT MANUFACTURING LTD.

Date SPI Disclosed

Apr 25, 2016

Country

Iraq

Region

Middle East

Projected Board Date

May 31, 2016

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry MAS MCT

Industry

Manufacturing

Previous Events

Approved : Nov 9, 2012
Signed : Dec 6, 2012
Invested : Mar 26, 2013

Sector

Cement

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 the development of KCML’s 2.3 million ton per annum (mtpa) cement plant located near Karbala, Iraq. This is a follow-on investment to KCML, with an earlier IFC investment made in 2012. 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.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation