IMAP is pleased to announce that TEKCIM signed a financing agreement to construct a state-of-the-art cement plant in Ouled Ghanem in the Moroccan province of El Jadida. The $274 million plant will have a nominal capacity of 3,600 tonnes of clinker per day or 1.4 million tonnes of cement per year, helping meet the growing demand for cement amid an increase in housing and infrastructure development projects in Morocco and the African continent.
Construction of the cement plant will be subcontracted by TEKCIM to Société Genéralé des Travaux du Maroc (SGTM), a large Moroccan construction company specializing in public projects, along with FLSmidth, a global engineering company based in Denmark.
The project will be financed by a consortium formed by the African Development Bank (AfDB), BMCE Bank of Africa, the Banque Centrale Populaire and Société Genéralé Maroc.
The team from IMAP Morocco, led by Partners Mehdi Berbich and Abdellatif Imani, advised TEKCIM on the financing agreement.
IMAP closed 193 M&A transactions valued at over $7.0 billion in 2020, down from the 7 year high of 235 deals closed in 2019.
GMD holds 12 food retail stores in the Azorean Autonomous Region, on the São Miguel, Santa Maria and Pico islands, and 1 wholesale cash and carry store on São Miguel island.
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