Displaying items by tag: MACCEM

Sierra Leone: IFC, a member of the World Bank Group, has announced a US$24m financing package for MACCEM Industries to build and operate a new cement grinding plant in Freetown. The project aims to reduce Sierra Leone’s reliance on cement imports, improve access to locally produced building materials and create new jobs. The package includes a US$12m loan from IFC’s own account and an additional US$12m from the IDA20 IFC-MIGA Private Sector Window Blended Finance Facility. The new plant has a planned capacity of 657,000t/yr and is expected to meet up to 65% of the country’s domestic cement demand. It will also reportedly integrate solar energy into its operations.

Ahmad Mackie, CEO of Maccem Industries, said “Together we are building the country’s first cement grinding plant in four decades, a project that will reduce import dependency, create jobs, empower local businesses, and set a stronger foundation for sustainable and inclusive growth.”

Abdu Muwonge, World Bank Group joint country representative in Sierra Leone, added “IFC’s partnership with MACCEM will support the development of housing and vital infrastructure such as roads, housing, water systems and energy projects.”

Sierra Leone: MACCEM will build a 0.56Mt/yr cement grinding plant in Hastings, Freetown, on a 4.4-hectare site near the Hastings Airstrip and the Jui-Masiaka Highway, according to the International Finance Corporation (IFC). The site already houses the producer’s cement bagging plant, with civil works for the grinding plant underway. Site clearing and levelling were completed in July 2024. The remaining construction is expected to take 12-15 months.

Clinker for the plant will be imported and transported by road from the Queen Elizabeth II Quay at the Port of Freetown. The IFC is considering a debt financing package of up to US$24m.