Guinea Alumina Refinery Project
- Reference: P-GN-BAA-001
- Approval date: 03/12/2008
- Start date: 03/12/2009
- Appraisal Date: 19/05/2008
- Status: ApprovedAPVD
- Implementing Agency: GUINEA ALUMINA CORPORATION, SA
- Location: Sangredi & Kamdar Guinea
Construction and operation of bauxite mine and alumina refinery in Guinea – it will be the largest in the country and one of the largest in Africa.
The project and its primary associated facilities consist of the following components:
- Development of new bauxite mines (production estimated at approximately 9-10 million tons perannum (Mtpa) non exportable bauxite);
- Design, development, construction, operation and maintenance of an alumina refinery (with initial capacity of 3.31 Mtpa), steam and power plant (110 MW of electric power);
- Red mud disposal facility;
- Water supply reservoir;
- Employee housing;
- Port facilities (new alumina terminal and container quay);
- Infrastructure improvements (including new 14.5 km access road to the refinery, railroad line improvements and spurs, a port and container terminal; bridge over Tinguilinta river, etc. – see para. 3.30).
The Guinea Alumina Project is a transformational project for Guinea, which ranks as one of the poorest countries in the world. This will be the largest single investment in the country’s history and supports the Government’s goal of maximizing the potential of its resource-rich territories. Although Guinea suffers from a high degree of perceived political risk, the project has solid commercial fundamentals. The Bank’s participation in the project will provide a high level of comfort to other lenders that the political risk can be mitigated and has a demonstration effect for future FDI to the country.
The project is well aligned with both national development priorities and the Bank’s country assistance strategy. It will bring significant economic and social benefits to Guinea through foreign investment, substantive and long-term job creation, and generation of substantial tax revenues leading to economic growth and development opportunities. Through its associated SME Linkages Program, the project will also boost entrepreneurship and add to the industry value chain.
IMAN Hussein Yusuf - OPSD2