ASS- ciment- HeidelbergCement- 2010 - VA
Transcription
ASS- ciment- HeidelbergCement- 2010 - VA
Cement industry Sub-Saharan Africa PROPARCO PROPARCO Financing the construction and extension of cement plants in Sub-Saharan Africa Project start-up: 2010 Financing: $35M equity investment Partner: HeidelbergCement Africa Impacts Context The construction and extension of cement plants in Sub-Saharan Africa will help: Sub-Saharan Africa’s cement market is hampered by local production capacities, which are often limited and give rise to high import levels, a lack of competition and upward price trends. This situation puts a brake on the implementation of infrastructure, construction and housing projects, which are however essential in order to support the high demographic growth experienced by this region. • Bring down the price of cement; • Scale up domestic production (and replace imports); • Boost the region’s building and public works sector. It will consequently make an effective contribution to developing the economies of the countries concerned. The project will also improve the environmental impact of HeidelbergCement’s activities in Africa by renewing and/or modernizing part of its production equipment. HeidelbergCement has adopted an Environmental and Social Management Plan which includes mandatory environmental criteria in line with the highest market standards. HeidelbergCement AG, a German firm listed on the Frankfurt Stock Exchange, is one of the world’s four leading cement makers. It operates in 50 countries on 5 continents and is also one of the most firmly established companies in Africa: Benin, DRC, Gabon, Ghana, Liberia, Sierra Leone, Tanzania and Togo. In order to pursue the development of its activities in Africa, HeidelbergCement has launched a capital increase - $60m at this stage – for its holding company, Scancem International ANS, which holds all its African interests. Project objective The project is in line with PROPARCO’s strategy to support the cement industry when the latter helps boost infrastructure and construction development and, at the same time, complies with strict environmental standards. Project description PROPARCO has made a $35M equity investment in Scancem’s capital increase, alongside the International Finance Corporation (World Bank Group). The funds raised have been earmarked to finance the construction of new cement plants or the extension of existing ones, and to improve the environmental impact of the latter. Cement industry Sub-Saharan Africa PROPARCO PROPARCO Dr. Bernd Scheifele, CEO of HeidelbergCement “We are very happy about the partnership that creates a win-win situation for all parties involved. Through the co-operation, HeidelbergCement secures attractive equity financing for the development of local cement capacities in Africa. In this partnership we will contribute our longstanding international experience in the construction material industry and strong governance, ethical and environmental management policies. The investment program will stimulate the improvement of local infrastructure and housing, create additional jobs and improve environmental standards.”