US$69m loan for Equatorial Guinea cement plant

The Equatorial Guinea government has been granted a XAF40.5bn (US$69m) loan by the Cameroon-based Common Savings and Investment Fund (CCEI) to build a cement plant in the west African state.

The loan will be used for the purchase of production equipment, including raw material storage, laterite crusher and conveyors.

Grupo Abayak SA will build a 0.5Mta cement plant in Akoga, reflecting a total investment of XAF162bn. The option exists to expand the works’ capacity to 1Mta.