When Calcom encountered financial difficulties in 2011/2012 and defaulted on its debts, GuarantCo partnered with FMO (then a shareholder in Calcom) to secure a sale of the project to new owners, thus rescuing the project. However, in its final stages, the project has faced cost overruns, which its local lenders were not able to fund completely. GuarantCo’s involvement in the various stages of the project has been critical in ensuring its completion.
Calcom is building north-east India’s largest cement plant. It is one of the largest private industrial employers in this remote region and a key contributor in reducing high cement prices caused by lack of local capacity. The cement produced by the project is expected to be used in various hydropower and road sector projects, and for constructing housing for over 300,000 people