Displaying items by tag: CBI

Ghana: Continental Blue Investment Ghana (CBI) may receive up to US$20m from the International Finance Corporation (IFC) for a limestone calcined clay cement (LC3) plant in Tema, according to Ecofin Agency. The US$66.7m project is supported by Société Générale, Norfund and Denmark’s export credit agency EKF, with IFC’s board due to decide on 30 September 2025.

The company said that the facility operates with the ‘world’s largest’ flash calciner, and has a capacity of 400,000t/yr of calcined clay. With the funding, CBI plans to raise output from 600,000t/yr to 1.4Mt/yr, reducing clinker imports and lowering cement prices.

CBI is owned by Swiss holding company F. Scott in a joint venture with Heidelberg Materials, with minority stakes held by Norway and Denmark’s public funds and Danish equipment supplier FLSmidth.

Ghana: Heidelberg said that it has signed an agreement with CBI for the acquisition of 50% of the latter’s shares. CBI is the parent company of CBI Ghana, which operates the 0.6Mt/yr Tema grinding plant in Accra. It is in the process of establishing a calcined clay plant at the facility. HeidelbergCement says that it and CBI will explore the possibility of further calcined clay projects in West Africa. Other investors in CBI Ghana include Denmark-based Investeringsfonden for Udviklingslande (IFU) and Norway-based Norfund.

HeidelbergCement’s existing Ghanaian susbidiary Ghacem operates 3Mt/yr-worth of grinding capacity at two plants in Accra and Takoradi.

HeidelbergCement managing board member Hakan Gurdal said “Characterised by high sustained market growth rates, Ghana is one of HeidelbergCement’s core markets in Africa. The new flash calciner in Ghana will be the largest worldwide, with a calcined clay production capacity of more than 400,000t/yr. Start of production is planned for 2024.” Gurdal concluded “We are committed to lowering our CO₂ footprint also in emerging markets.”