Completed Mixed AidData Chinese Aid

ICBC provides $13.1 million loan to Loma Negra Companía Industrial Argentina S.A. for L’Amalí Cement Plant Expansion Project in January 2020

$13.13M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Loma Negra Compañía Industrial Argentina S.A.
Country	Argentina
Start Date	Jan 01, 2020
End Date	Jan 27, 2032
Duration	4,409 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`105820`

Grant Description

ICBC provides $13.1 million loan to Loma Negra Companía Industrial Argentina S.A. for L’Amalí Cement Plant Expansion Project in January 2020 In January 2020, Loma Negra Companía Industrial Argentina S.A. (Loma Negra C.I.A.S.A.) signed a $13,127,766, loan agreement with the the Industrial and Commercial Bank of China (ICBC) for the L’Amalí Cement Plant Expansion Project.

📋 Loan / Grant Terms

💰 Loan Amountcarried an interest rate of 6-month LIBOR plus a 7

📅 Maturity2 years

The borrower was expected to use the proceeds of the loan to cover the expiration of letters of credits associated with the imports of goods and equipment related to the L’Amalí cement plant expansion project.

The L’Amalí cement plant, which is located in the center of Buenos Aires province, started up the kiln of its second production line in June 2021 but was later forced to suspend all clinker production at the plant due to a union dispute. It was ultimately commissioned in December 2021.

📋 Staff Comments

Loma Negra Companía Industrial Argentina S.A. is an Argentine manufacturer and the country's leading maker of cement, concrete, and lime. It is currently a subsidiary of InterCement Participações, a company of the Brazilian conglomerate Mover Participações.
For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.

📚 Sources & References

FORM 20-F
Loma Negra inaugurates new line at L’Amalí cement plant
Loma Negra Compañía Industrial Argentina Sociedad Anónima Annual Report and Financial Statements as of December 31, 2020 and 2019 and for the years then ended
FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 LOMA NEGRA COMPAÑÍA INDUSTRIAL ARGENTINA SOCIEDAD ANÓNIMA
Planta L’ Amalí Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.