CimCo to receive loan for Togo project

Cimenterie de Côte Ouest-Africaine (CimCo) is expected to receive a XOF20bn (US$35.62m) loan from the West African Development Bank (BOAD) for its project in Lomé, Togo. The long-term facility was approved by the bank’s board of directors last Friday.

"The targeted goal is to contribute to the satisfaction of cement demand in Togo and the region by taking advantage of the geographic location of the port of Lomé, as well as to contribute to the country’s economic growth by boosting the competitiveness of the industrial sector along with performances of the infrastructure sector," said the BOAD in a statement.

CimCo is a subsidiary of CimMetal group, with the group planning to invest nearly XOF100bn in its Togolese project. The 2.5Mta plant will be designed and built by Intercem and Gebr Pfeiffer, and is expected to become operational in the 1Q21.