Project Description
IFC is considering an A loan of up to U.S.$120 million with an additional blended finance tranche of up to U.S.$50 million, to support CEMEX, S.A.B. de C.V.’s (“CEMEX” or the “Company”) sustainable investment program in emerging markets. CEMEX is a global building materials company that operates in more than 50 countries throughout the Americas, Europe, Africa, the Middle East, and Asia. As of December 31, 2015, CEMEX had 43,117 employees, 56 cement plants and an additional 12 cement plants in which CEMEX has a minority participation, 1,608 ready-mix-concrete facilities, 305 aggregate quarries, 242 distribution centers and 61 marine terminals, as well as 2 research and development centers.
IFC financing will support projects to enhance improvements in environmental performance at CEMEX’s operations, with more than two thirds of the funds allocated to projects aimed at the Company’s greenhouse gas (“GHG”) emissions reduction. The remaining one third of the funds will cover overall air emission control improvements.