Antea Cement, Kruja, Albania
Publisher: CEE Bankwatch Network
Volume: 3 pages, pdf
Description:
In July 20071 the Government of Albania approved the construction of a cement factory in the municipality of Kruja, 30 kilometres north of the capital Tirana. The investor, Antea cement, a subsidiary of Greece’s TITAN Cement Group, completed the construction of the plant and started production in January 2010.2 The project, with total costs of EUR 210 million in total, was financed partially by the European Bank for Reconstruction and Development (EBRD) with EUR 29.4 million (EUR 12.6 million of equity and EUR 16.8 million in subordinated debt) and partially by the International Finance Corporation with EUR 29.4 million, comprising a loan and a 20 percent stake in the company.