Memorandum of understanding for the payment of Congo's debt to Dangoté Cement Congo S.A. for infrastructure works
972.6 million CFA francs to be repaid to the Cement Company
21 Mar, 2022
On Monday 21 March 2022 in Brazzaville, Rigobert Roger Andely, Congolese Minister of Finance, Budget and Public Portfolio, representing the Government, signed a Memorandum of understanding for the payment of Congo's debt to Dangoté cement Congo S.A., represented by Ravi Iyer, Managing Director.
As part of the clearance of this debt, the repayment will be staggered as follows: the first payment will be made in April 2022, for an amount of 486.3 million CFA francs, and the second payment will be made on 1 October 2022, for the same amount. All these payments will be made by bank transfer.
This net debt of the Dangoté company to the Congolese State relates to the pre-financing of the expropriation of the limestone quarry site, for an amount of 364 million 029 thousand 846 CFA francs, and the work on the bridge over the Bouenza River, for an amount of 608 million 540,258 CFA francs.
Note that this factory has been established since 23 September 2017 in Ndingui (Yamba district, Bouenza division), on the Bouansa-Mouyondzi road. Its production capacity is 3,000 tons of cement per day. It provides 650 direct and 1,500 indirect employments.
