NOVACIM SA
- Sector : Cement
- Type : Greenfield
- Country : Morocco
- Partner Shareholder : KD Holding
- Investment ARIF : 25% in Equity (capital and shareholder loans)
- Description :
New Moroccan player of the cement industry.
The future cement plant, located 45 km south of the city of El Jadida, 145 km south of Casablanca in the rural commune of Oulad Ghanem province of El Jadida, will have a nominal capacity of 3,600 t/d of clinker, i.e. 1.4 million tons of cement per year.
The project’s construction is entrusted to a consortium consisting of SGTM and the Danish FLSmidth. The construction of the plant is underway and the commissioning is scheduled for 2022.
The total cost of the project amounts to 2.655MMAD (EUR 248M). It will be financed in equity by ARIF and
KD Holding and in debt by a consortium of Banks composed of AfDB, BOA, BCP and SGMB.
- Impacts :
NOVACIM SA will be the 4th largest cement producer in Morocco. The project is part of an approach to strengthen the production capacities of the kingdom, which still has a significant margin for growth in demand with a potential for export to West Africa. In addition to the creation of direct employment opportunities, the project will instill a new socio-economic dynamic in its implementation region.
About the partners
Founded in 1971 by late Mr. Ahmed and Mr. M’hammed Kabbaj, Société Générale des Travaux du Maroc-SGTM (subsidiary of KD Holding shareholder of Novacim) is a Moroccan group specialized in construction and civil engineering with a turnover of more than 380 million euros, employing nearly 10,000 people. The Group has carried out numerous highly complex infrastructure projects in Morocco and Africa. SGTM has participated in the construction of the High Speed Train line (LGV), numerous dams and port facilities in Morocco and Africa, including the development of the Cocody Bay in Abidjan and the construction of the Nachtigal hydroelectric complex in Cameroon. SGTM recently has been co-awarded the contract for the construction project of the new Dakhla Atlantic port.
