Titan Egypt

completed

This SII was disclosed in November 10, 2009 under Titan Egypt, Project #27022, which was approved by IFC Board in December 2009.  In October 2010, prior to IFC disbursement, an internal product change was done via the system, and as a result of this internal system split, a new project identification and number (Alexandria Development Limited, ADL, Project #30274) were generated. Based on operational procedures, there was no need for a new disclosure at that time, given that the  change of to the project identification and number were only due to  an internal product change, and the original entities involved, the requirements and the project scope remained unchanged.Titan Group, an existing IFC client and Greece’s leading private cement company, is seeking to expand its cooperation with IFC in its Egyptian operations which consist of two entities: Beni Suef Cement Company (“BSCC”) and Alexandria Portland Cement Company (“APCC”), (together, the ”Company”). BSCC and APCC have a combined production capacity of 3.5 million tons per annum (“mtpa”) and are engaged in an investment program to add a second integrated cement production line of 1.5 mtpa in BSCC, and various debottlenecking investments in both plants (the “Project”).