The Board of Directors of the African Development Bank Group approved a €200 million loan in Abidjan to finance the “Clean Air” project being implemented by the Société Ivoirienne de Raffinage (SIR).
The project involves designing, building, and commissioning a diesel hydrodesulfurisation (HDS) complex at SIR. The new facility will increase the refinery’s ability to process petroleum products and produce ultra-low-sulphur diesel.
The investment will enable SIR to produce fuels that meet international standards while improving air quality and supporting the transition to cleaner petroleum products across the region.
Established in 1962, SIR refines crude oil and distributes petroleum products across Côte d’Ivoire and to international markets, according to information on its website.
The project is expected to cost €833 million and will receive financing from a consortium of development finance institutions and partners. The African Development Bank will serve as the mandated lead arranger, structuring the financing and mobilising additional funding for the project. SIR plans to commission the new HDS complex in 2029.
Kevin Kariuki, Vice-President of the African Development Bank Group for Power, Energy, Climate and Green Growth, said the Clean Air project will enable Côte d’Ivoire to produce ultra-low-sulphur fuels while supporting industrial modernisation, climate action, and public health across West Africa. He added that the Bank is pleased to support the project, which will contribute to cleaner cities, improve vehicle engine performance, and strengthen the competitiveness of Côte d’Ivoire’s fuel industry.
The project will also improve the energy security of Côte d’Ivoire and neighbouring landlocked countries, including Mali and Burkina Faso, which rely in part on refined petroleum products supplied by SIR. It will also help maintain the competitiveness of one of West Africa’s largest operating refineries as regional and international environmental standards become more stringent.
Construction of the complex is expected to create about 1,140 on-site jobs. Once operations begin, SIR will recruit an additional 82 permanent employees while retaining around 900 existing jobs. The project also includes a skills development programme for about 50 employees to support the operation of more efficient and environmentally friendly technologies.
The Clean Air project aligns with the African Development Bank Group’s Ten-Year Strategy 2024–2033 and supports one of its Four Cardinal Points by mobilising capital at scale, building climate-resilient infrastructure, and promoting industrialisation.
source: afdb.or
African Energy Council