Ynna Holding, a significant player in the Moroccan real estate sector, is planning to construct a greenfield integrated cement plant with a production capacity of 2 million tons per annum in the Settat region. Ynna Holding sees cement manufacturing as a natural step given its existing businesses.The World Bank is considering a financing package consisting of a Partial Credit Guarantee of up to 50% of the local debt financing and an equity investment of up to 19% of the share capital.
The Holding is in the process of diversifying its portfolio of activities and sees cement manufacturing as a natural step given its existing businesses. IFC (World Bank) is expected to play a significant role in this project by assisting a local company as it enters the cement sector in a country that has been traditionally oligopolistic and dominated by international players. IFC's investment, both as a shareholder and guarantor, is expected to provide added value to this Project. IFC Partial Credit Guarantee will improve Ynna Holding’s access to long term financing as it is currently reaching is exposure limits with its local banks. Furthermore, IFC will support the company in establishing local environmental and social practices consistent with the IFC Performance Standards.
via Africa Intelligence
Posts
