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Infrastructure Components and Equipment

Senior Debt Provided

US$20 million

African Foundries have developed a steel mill in Nigeria that recycles scrap metal, turning it into “rebars”. These are used to reinforce concrete, which is used for a multitude of purposes when developing infrastructure, including dams, tunnels, ports and harbours, roads, airports, railways and large buildings like power stations and water treatment facilities.

The plant, which has the potential to employ 500 people, helps rid Nigeria of vast amounts of scrap metal that have accumulated over many decades. Producing c225,000 tonnes of steel annually, the output cuts Nigeria’s dependency on imports. The electricity to power the plant comes from a power station fuelled by natural gas that would be otherwise flared-off and wasted. EAIF provided a US$20 million loan to the project, which had a total transaction size of US$130 million.

Other projects

The Emerging Africa Infrastructure Fund has to date invested in 58 projects in 17 countries.

Ghana’s pioneer project by an independent power producer

Country: Ghana / Sector: Power

Ghana had 2,800MW of installed electricity generating capacity in 2014 with forecast demand expected to be 5,000MW by 2016. Ghana needs power. One hundred and twenty people will have full time jobs when the Cenpower Kpone generating station opens for business.

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Gas pipeline project makes power more affordable

Country: Nigeria / Sector: Power

A US$15million loan from EAIF supported Tower Power’s 2011 US$21.30 million project at Abeokuta in Nigeria. The company’s new 12.5MW electricity generating plant uses local gas previously flared off and wasted.

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Creating infrastructure to help Nigeria succeed

Country: Nigeria / Sector: Gas Infrastructure

When 7Energy subsidiary, Accugas, completes the Oron-Calabar gas pipeline and supporting infrastructure, it will supply two of south-eastern Nigeria’s power stations with more affordable fuel. EAIF was the project’s anchor investor. In 2014 it made a US$29.4 million loan to 7E.

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