📋 Tender Overview
Project Number: 48886
Company Name: B5 Plus Limited
Date ESRS Disclosed: Jun 28, 2024
Country: Ghana
Region: Africa
Environmental Category: B
Status: Pending Approval
Sector: Integrated Steel Works
Industry: Manufacturing
Department: Regional Industry - MAS Africa
Project Description
IFC is considering a $50 million investment to B5 Plus (or the Company ), one of the largest manufacturers and suppliers of steel-related products in West Africa. The project is focused on supporting the Company’s operations in Ghana, which includes three steel plants located in Tema, a heavy industrial area located 30 km south of Accra, the capital city of Ghana. B5 Plus is also involved in trading metal products and has depots throughout Ghana from which products are sold.
B5 Plus’s main plant in Tema ( Kpone ) serves as the company headquarters. The plant was established in 2002, and operations include cold rolling, cold forming, wire rod base production, and sheet metal working. Another plant was recently acquired in 2023 and is in the Tema Freezone ( TFZ ). This is an existing steel plant that had not operated for 3 years. B5 Plus refurbished the plant, and, in January 2024, operations recommenced. This facility has induction furnaces producing liquid steel from scrap metal. The facility also has a reheating furnace and hot rolling mill and is currently producing rebar; this will be diversified to include wire rods. The third plant ( Prampram) was established as a greenfield development in 2019. The plant is the first development in a newly established industrial area, and there is no other activity in direct proximity. This facility also has induction furnaces producing liquid steel from scrap and a reheating furnace. Other activities include a hot rolling mill, tube mill, cold rolling and forming, wire rod production, and sheet metal working. There is also a fabrication department that produces structures and vehicle trailers.
IFC’s investment to B5 Plus is for purpose of, i) ongoing refurbishment of the TFZ steel plant, ii) installation of a wire rod facility at the TFZ plant, iii) development of a roof solar plant at the Prampram facility; and iv) working capital.
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington, DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
