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IFC loan for Bosnia soda ash plant.

THE INTERNATIONAL Finance Corporation (IFC) of the World Bank is lending Euro 24 million to rehabilitate and expand a key soda ash plant in war-damaged Bosnia & Herzegovina to help invigorate the local economy, which remains sluggish, despite 12 years of peace. The loan to Sisecam Soda Lukavac (SSL) will, said an IFC note "fund a comprehensive turnaround program that designed to return the firm to profitability and full capacity." It will also finance an environmental improvement programme at the Tuzla-area plant, which is the largest customer of local limestone and salt mines. SSL is majority-owned by the Turkey-based Sisecam Group.
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Author:Nuthall, Keith
Publication:International News
Date:Apr 1, 2007
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