Pacific Lime and Cement Limited has entered into a strategic partnership with the International Finance Corporation to strengthen its Papua New Guinea Cement project.
IFC, a member of the World Bank Group, will advise the company’s integrated Central Cement Project in Central Province, Papua New Guinea.
IFC is the largest global development institution focused on the private sector in emerging markets. It invests in the private sector to connect economic development with humanitarian needs, creating real progress for the people and places that need it most.
IFC will advise the company across four key workstreams aimed at strengthening the project’s technical, commercial, and environmental foundations. This will include updating bankable feasibility assessments, refining market and financial assumptions, and enhancing environmental and social management systems. These workstreams will help ensure the project is well-prepared, sustainable, and aligned with international standards.
Paul Mulder, Managing Director of Pacific Lime and Cement Limited, expressed the importance of the partnership.
“The International Finance Corporation is a pre-eminent global financial institution in enabling transformational industrial projects in emerging markets,” Mulder said.
“Their engagement recognises the significance of establishing Papua New Guinea’s first fully integrated clinker and cement operation for nation-building.”
As part of the advisory scope, IFC will assess the project’s existing Environmental and Social Management System (ESMS) and recommend improvements to help PLC move toward compliance with IFC Performance Standards—a prerequisite for multilaterals and global financiers.
Together with the technical, market, and financial workstreams, this effort reinforces and independently validates the existing bankable feasibility study, positioning the project for international lender due diligence and financing processes.
The partnership reflects a shared commitment to delivering a project that supports domestic cement supply, job creation, import substitution, and long-term industrial capability for PNG.
