CfC Stanbic lends ARM Cement of Kenya US$49.74mn

Kenya-based ARM Cement has taken a US$49.74 million (KES 4.5 billion) loan from CfC Stanbic Bank, to help fund several of its projects. These include a planned 2.5 million tonne/year cement factory in Kitui, a 2,500 tonnes/day grinding plant in the Tanga region of Tanzania, and an upgrade of the Rwanda grinding plant to 2,000 tonnes/day. Further cash may be made available if Nigeria's Africa Finance Corporation (AFC) decides to convert its $50 million bond from 2012 to shares in ARM.
December 11, 2014 Read time: 1 min

Kenya-based 7789 ARM Cement has taken a US$49.74 million (KES 4.5 billion) loan from CfC Stanbic Bank, to help fund several of its projects. These include a planned 2.5 million tonne/year cement factory in Kitui, a 2,500 tonnes/day grinding plant in the Tanga region of Tanzania, and an upgrade of the Rwanda grinding plant to 2,000 tonnes/day. Further cash may be made available if Nigeria's Africa Finance Corporation (AFC) decides to convert its $50 million bond from 2012 to shares in ARM.

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