Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Iraq
Location: Karbala
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Active
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2012-11-09
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: KARBALA CEMENT MANUFACTURING LTD.
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Industry and Trade
  • Infrastructure

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2018-02-06
Disclosure Date: 2016-04-25
Karbala Cement Manufacturing Limited
IFC-32206

Project Description

Karbala Cement Manufacturing Ltd (KCML) is an Iraqi company that entered in April 2010, into an agreement with the Government of Iraq for the leasing, rehabilitation and production-sharing of a state-owned cement plant in Karbala, southern Iraq for 15 years (starting October 2010). The project entails a loan to support development of Lafarge's 2.3 million ton per annum (mtpa) cement plant located near Karbala, Iraq. This is a follow-on investment to an investment IFC made in 2010 to support development of two cement plants in Iraq by Lafarge, including the one located near Karbala. The IFC loan will help KCML complete the rehabilitation of the cement plant. The rehabilitation work is being undertaken jointly by the original equipment supplier Polysius and Sinoma, an experienced Chinese EPC contractor.

Investment Description
Private Actors

The project sponsor is Lafarge SA, one of the largest cement manufacturers globally. As of July 2015, it has merged with Holcim, another leading global cement manufacturer, to create LafargeHolcim. The new entity has sales of over USD24 billion and EBITDA of nearly USD5 billion, a presence in 90 countries, with over 180 cement plants and 374 mtpa of installed cement capacity. LafargeHolcim is listed on both the SIX (Zurich) and Euronext (Paris) exchanges. In the merger process, Lafarge SA has practically become a fully owned subsidiary of LafargeHolcim.

Contact Information

Karbala community engagement representative:
Mr. Mohamed Juhaishi
Security and PR Manager
Phone: +964.780.912.4343
Email: Mohamed.Juhaishi@LafargeHolcim.com

For local access of project documentation:
Karbala Cement Manufacturing Limited
A member of LafargeHolcim,
Dist 915, St 34, House 1/17,
Jadriya, Baghdad,
Iraq

 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

Bank Documents