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- Operations
- Metalco Industries Limited
Metalco Industries Limited
Zambia
| Borrower | Metalco Industries Limited (MI) |
| Financing Type | Private Sector & Trade Finance |
| Instrument | Private Sector Debt |
| Focus Area | Industry |
| Approved | 20.09.2016 |
| Signed | 30.03.2017 |
| Status | Ongoing |
| Loan Administrator | OFID |
| Co-financiers | IFC, Metalco |
| OPEC Fund Contribution (US$m) | 10.00 |
This investment went to Metalco, a Zambian company that recycles metal scrap to manufacture copper cables, lead-acid batteries, aluminum sheets and utensils. Metalco will use the new capital to upgrade environmental standards, expand operations, create over 250 new jobs and support the local economy of Kabwe, where the company is based. IFC will advise Metalco on energy efficiency, quality control and improving corporate governance. For more information see OFID press release E07/2017 issued March 31, 2017.