Tunisia - Gafsa Phosphate Company (CPG) Consolidation

The project to consolidate the means of production of the Compagnie des Phosphates de Gafsa "CPG" is part of the IX Development Plan of Tunisia which responds to this strategy aimed at modernizing industrial enterprises, increasing the productive capacity of the industrial sector and exports. The bank has been supporting the GIC since 1989 and this project is a normal continuation of its support to the industrial sector in Tunisia. The main activities of the project concern the launching of international tenders for the purchase of equipment and quarry subassemblies and all necessary equipment for the flotation unit, the reconditioning of the equipment, the construction of a flotation unit and an automation system for the filtered handling system. The expected accomplishments are: (i) Increase in extraction capacity; (ii) Optimization of production. The expected effects of the project are to increase phosphate production from 7.2 to 8 million tons and to achieve an export turnover of UA 395 million from 2001.