Skip to content


Green financing

Circular building materials


Danish funds foster green cement project in Ghana

4. December 2023

Solution provider

More from FLSmidth

Want to see this solution first hand?

Add the case to your visit request and let us know that you are interested in visiting Denmark


Cement production, essential for concrete, accounts for approximately seven percent of all CO2 emissions. This environmental impact is primarily due to the traditional use of carbon-intensive clinker as the main ingredient in cement production.


Substituting clinker for low-carbon alternatives is key to cement decarbonisation. This practice is well-established, and standards are evolving as blended cement proves its quality. In countries heavily reliant on clinker imports, such as Ghana, the substitution of clinker with alternatives not only reduces carbon emissions, but also lowers transport costs and reduces the need for foreign currency for imports.

The Danish company, FLSmidth, is providing engineering and supplying equipment for the world’s largest calcined clay plant at CBI-Ghana. Calcined clay has similar properties to clinker but offers a much lower carbon footprint. At CBI-Ghana, it will reduce CO2 emissions by 20 percent compared to current practices.


FLSmidth facilitated access to Danish financing for the CBI-Ghana project through partnerships with IFU and EIFO. The financing includes both equity and a long-term export credit loan and was made possible after a thorough commercial and environmental due diligence of the project. The project qualifies because it will introduce a new low-carbon cement to Africa and complies with the EU Taxonomy for sustainable cement production. Similarly, the door for commercial bank participation was opened.


FLSmidth A/S, DSDG (the Danish Sustainable Development Goal Investment Fund, under the management of IFU), EIFO (the Export and Investment Fund of Denmark), Norfund (the Norwegian Investment Fund for Developing Countries), Continental Blue Investment Ghana Ltd. (CBI-Ghana), F. Scott.

Financing the green transition

This is a part of the white paper “Financing the Green Transition”. Discover Denmark’s plans to mobilise investments to accelerate the transition to a carbon-neutral and climate-resilient economy.

Explore the white paper