A multi-project facility (MPF) of US$ 160 million with Lafarge to acquire, modernise, expand, construct and operate manufacturing facilities in the cement, lime, aggregates and ready-mix concrete sectors.
The project objective is to support the development of Lafarge's investment programme, which assists in the privatisation and the development of local companies in the eligible sectors, enhances their performance and improves their environmental standards.
(i) Restructuring, privatisation and modernisation of the cement and related building materials industry; (ii) technological and management know-how transfer; (iii) improvement of environmental compliance; and (iv) provision of equity to a capital-intensive and highly cyclical industry sector.
Lafarge, founded in 1833, is the world's largest producer of cement and other building materials. The Group employs 83,000 people in 75 countries, with 2001 consolidated sales of EUR 13.7 billion. As of 4 July 2002, Lafarge Group's capitalisation was EUR 13 billion.
A multi-project financing in the form of an equity facility of up to US$ 160 million (EUR 145 million) for investments in cement, lime, aggregates and ready-mix concrete companies.
The MPF's investment programme indicates a total investment of EBRD and Lafarge of approximately EUR 450 million.
The multi-project facility was classified C/0. Lafarge has adopted a Group-wide environmental policy and formalised environmental procedures for the MPF Environmental Action Plans (EAPs). These will be developed as a result of the environmental due diligence and appraisal process and will consider environmental compliance, liabilities, risks and opportunities. They will become part of the business and investment plan for each project to be financed under the facility. Significant environmental, health and safety, and energy efficiency improvements are expected to be realised with the implementation of Lafarge's MPF investment programme. An annual environmental report will be submitted to the EBRD on the investee companies encompassed by the facility.
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