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Vicat-SOCOCIM
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 25363
Company nameSococim
Country
Senegal
Sector1Cement
Environmental categoryB
Department
StatusCompleted
Date SPI disclosedNovember 20, 2006
Projected board dateDecember 20, 2006
Previous EventsInvested: July 30, 2008
Signed: January 31, 2007
Approved: December 21, 2006
View Environmental & Social Review Summary (ESRS), click here
click here
  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
The proposed project will support the expansion of the cement activities of the Vicat Group (Vicat), the third largest cement company in France, through a financing package to Sococim Industries (Sococim), its wholly owned subsidiary in Senegal. Sococim, which was acquired by Vicat in 1999, has been supplying the Senegalese market since the 1950s and has also been exporting its cement to the surrounding countries.

Based on anticipated growth in the cement markets of Senegal and Mali and Sococim’s need to enhance the technical performance of its existing facilities, Vicat has proposed an investment program in these countries. The capital expenditure for the project includes the following components:


- construction of a new 24 MW power plant;
- environmental upgrades to meet local, EU and Worldbank/IFC emission standards;
- capacity increase of a quarry, crusher, cement mill and bagging facility;
- replacement of one of the current clinker lines with a new dry process kiln clinker line with a capacity of 4,200 tons per day; and
- various other technological upgrades.

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