PROJECT

Projects

Summary of Investment Information

Project Number

50290

Company Name

SOCOCIM INDUSTRIES

Date SPI Disclosed

Nov 18, 2024

Country

Senegal

Region

Africa

Projected Board Date

Jan 15, 2025

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jan 15, 2025

Department

Regional Industry - MAS Africa

Industry

Manufacturing

Previous Events

Approved : Dec 18, 2024
Signed : Dec 20, 2024
Invested : Jan 13, 2025

Sector

Cement

Project Description

 The proposed investment is a debt facility to Sococim Industries (‘Sococim’, ‘Company’ or the ‘Borrower’), the largest integrated cement manufacturer in Senegal to fund working capital and additional capital expenditures related to kiln modernization at its existing facility near Dakar, Senegal. Sococim is a subsidiary of Vicat S.A, (‘Vicat’, ‘Sponsor’, or the ‘Guarantor’), an existing and strategic client for IFC, and one of the top global cement makers.

IFC’s facility will enable Sococim to replace and modernize part of its existing capacity with a modern fuel-efficient kiln (the ‘Project’) with Best Available Technology. Further, the Project will enable the Company to replace all of its clinker imports.                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation