USD 32.5 million loan to Calcom Cement India Ltd (Calcom), to restructure previous financing for a 1.7 MTPA (million tonnes per annum) integrated cement plant in North East India.
USD 32.5 million
Total transaction amount
USD 71.20 million
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.