Roofings is owned by Mr. Sikander Lalani (founder and Managing Director) and his immediate family. Roofings was created in 1994 and is one of the top exporters in the Great Lake Region. Roofings employs 850 people and has an installed annual capacity of 110,000 Metric Ton (MT). RRM is owned 100% by Roofings.

The proposed IFC investment consists of an A-loan of up to $25 million into RRM.

25.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	25.0
Equity

* These investment figures are indicative

The Project will cover 30 acres in the new industrial park in Namanve situated approximately 15 kilometers from Kampala city centre. The site is close to good road links and has a working railway line running through. The industrial park in Namanve is a World Bank- sponsored project.

The Project is expected to have a strong development impact by: (i) providing consumers with increased access to high quality steel products in a 110-million people market; (ii) contributing to the upgrade of local business practices through the introduction of modern production technology; (iii) positively impacting other sectors such as construction and low-income housing; (iv) focusing on job creation and retention; and (v) encouraging other economic operators to move into the new industrial park.

IFC’s additionality in the proposed investment will be as follows: Provision of long term financing: IFC is expected to provide a long term senior loan that would best serve the long term nature of this expansion project; Transfer of knowledge and expertise: IFC would share with Roofings its local and global steel sector and deal-structuring knowledge gained through the financing of similar projects in the region and globally; and Help improve standards: IFC would provide guidance in the areas of environment, social management and corporate governance to the Sponsor.

This is a Category B project according to IFC’s Environmental and Social Review Procedure because of the limited number of specific impacts that may occur are site specific, and those impacts can be avoided or mitigated by adhering to generally recognized performance standards, procedures, guidelines or design criteria.

The Sponsor is experienced in the manufacturing of steel products and is implementing internationally recognized quality, health, safety and environmental management systems at their existing operations. These systems will be similarly applied to the new expansion program. The existing development is located in an area which is considered acceptable for such operations, while the new expansion project is located in the Kampala Industrial Park, an area specifically designated for such operations on the outskirts of the city. Key environmental and social issues are addressed via the company’s management systems, and the company’s environmental and social performance will be strengthened through implementation of the project Environmental and Social Action Plan.