Western Africa
IFC approves $12m finance for construction of steel plant in Ghana
The International Finance Corporation (IFC) has approved a US$12 million loan to Rider Iron and Steel Ghana for the construction of a steel manufacturing plant. The steel plant will be located in Kumasi, Ghana’s second largest city.
According to a statement posted on the IFC website, “When complete in 2021, the factory will produce roughly 240,000 tons of steel products annually using mostly locally sourced scrap steel. The plant will increase Ghana’s current production by more than 75 percent.”
The IFC statement said the plant would create about
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