Sococim Low Carbon Cement

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 SOCOCIM Industries (‘SOCOCIM’, ‘the Company’ or the ‘Borrower’) (http://www.sococim.com/), is a subsidiary of VICAT S.A (‘VICAT’, ‘Sponsor’, or the ‘Guarantor’), one of the global cement manufacturers.  SOCOCIM was established in 1948 and acquired by VICAT Group in 1999.  IFC is proposing a debt facility to construct a high fuel-efficient kiln, (kiln 6 or the ‘Project’). The total Project cost is expected to be up to €260 million. IFC’s financing consist of up to €120m IFC A-loan and up to €120m equivalent in Parallel Loans. The investment includes the equipment for a complete clinker line, namely: quarry crusher and associated conveyors, pre-stocking hall, raw grinder, fuel preparation workshop, clinker storage silo, improvement on existing furnaces and equipment for processing and storage of alternative fuels.  The planned production capacity is 6,500 tons per day of clinker, or 2 million tons per year.  Construction of kiln 6 is expected to commence in 2022 and expected to start operations in 2024.  The SOCOCIM cement plant is located in Rufisque, 27 kms from Dakar city center, surrounded by a populated resident area and other industries that have grown over time, including (i) train Express Régional Dakar-AIBD; (ii) port Minéralier et Vraquier (bulk port); (iii) Centrale de Sendou (coal plant); (iv) Tosyali Holding (metalworks); (v) Plateforme industrielle intégrée de Diamniadio (business/education/industrial area). Currently, the plant operates kilns 3, 4 and 5 as well as a coal mill.  Facilities also include the power plant, the solar park, a truck park adjacent to the plant. Raw materials come from 4 quarries: Bargny, Pout, Ngoudiane and Bandia. No land and no quarry expansion are planned as part of the project; however, investment in the new crusher will be part of the Project.