IFC reveals proposed investment in Ghanaian steel plant

The International Finance Corporation has disclosed it is considering granting a $12 million loan for the construction of a greenfield steel manufacturing plant in the Kumasi area of Ghana.

The owner of the $24 million project is Rider Iron and Steel Ghana Limited. The plant is expected to have a capacity of 300,000 metric tonnes per annum.

The facility will be the second steel plant to be constructed by Rider Iron and Steel in Ghana. The company is 100% owned by a non-operating holding company, Rider Green Industries Inc, domiciled in Seychelles, whose ultimate beneficiaries are Ghassan Muhsen Moh‘d Wathaifi (90%) and Walid Alalami (10%), both Jordanian nationals.

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