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- Midal Cables Aluminum Manufacturing Plant
Midal Cables Aluminum Manufacturing Plant
Mozambique
| Borrower | Midal Cables International Lda (Midal Mozambique) |
| Financing Type | Private Sector & Trade Finance |
| Instrument | Private Sector Debt |
| Focus Area | Industry |
| Approved | 18.09.2013 |
| Signed | 18.03.2014 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| Co-financiers | IFC, Sponsor, Local Banks |
| OPEC Fund Contribution (US$m) | 12.00 |
This loan will help fund establishment of a green-field 50,000 tons per year aluminium rod and wire and conductor manufacturing plant. The products will be used for electricity transmission and distribution. The plant will be located adjacent to the Mozal Smelter which will supply aluminium ingots under a 10 year renewable price contract. The company will be the sole aluminium rod manufacturer in sub-Saharan Africa and will serve South Africa and other African markets, which currently rely on imported materials.