Rider Iron & Steel Ghana Limited

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Rider Steel Ghana Limited (RSG), a legally registered public liability company in Ghana, operates a direct rolling steel factory in Tema, Accra with 80,000 metric tons per annum (“MTPA”) name plate steel melting capacity. RSG’s operation is now stabilizing and profitable, and the management plans to expand steel production in Kumasi, Ghana, which is about 250 kilometers from Accra, through Rider Iron and Steel Ghana Limited (“Rider Steel Kumasi”, “RSK” or the “company”), is legally registered entity in Ghana. The expansion will involve the construction and operation of a steel manufacturing Plant in Kumasi comprising up to six 20 metric tons (“MT”) furnaces, with a total production capacity of 240,000 MT/year, by RSK (the “Project”). The Project will initially install three 20MT furnaces with an effective capacity of 120,000 MT/year, and subsequently expanding to six 20MT furnaces with an effective capacity of 240,000t/y. The site will be served by grid electricity and piped water, both to be built by government authorities but recovered from RSK (“associated facilities”). The proposed 5km water supply line will be laid on existing road reserves and connected to the existing Ghana Water Company (GWC) distribution network. The 33kV power line will be laid within an existing GridCo Right of Way (RoW) and a new RoW of 10m wide and 800m long on stool land. RSK has invited IFC to support the planned expansion. IFC now proposes to provide up to US$12.0million A Loan for the project.