The news is reported by APA News. The World Bank estimates the cement works project in Guinea Bissau at 22 million euros for a production capacity of 200.000 tons per year, indicated a communiqué from the world financial institution.
The promoters requested a loan for 11 million euros, the half of the value of the project, and the decision must be taken before the end of February, added the communiqué.
The project is managed by Maxime Cardoz, a Senegalese private investor, and Scancem, a subsidiary of Heidelberg Cement, the German company of cement and building materials, one of the biggest cement works of the world.
The objective is to replace the cement existing on the market in Guinean Bissau, completely imported, and that is sometimes runs out on the local market.
People of Guinea Bissau are also victims of the repercussion of the transport costs on the price of the imported cement, as it is pointed out in the summary of the International Finance Corporation (IFC) of the World Bank Group that studies the project.
The promoters consider that the market of Guinea Bissau will continue to grow and the factory could even export to Senegal.
According to the sources, the factory could employ 40 people by shift working group. The grinding of raw materials and the production of cement will be cold and the use of very little water, minimizing so the environmental impact of the project.
Electricity will be supplied by the network connected to the Kaleta dam in Guinea Conakry that should start working in August. Another possibility is to install generators of two megawatts to assure the supply of the factory.
Original text by: Blaise AKAME