Nearly 88 billion CFA francs have been invested in the PROALU project. This initiative by PROMETAL Groupe results in the creation of an aluminum processing plant aimed at reducing imports of aluminum products in Cameroon. The main objective is to process the country’s raw materials locally. By focusing on the exploitation of local resources, PROMETAL Groupe intends, once again, to contribute to the dynamism of the Cameroonian economy through this new industry. PROALU will invest nearly 48 billion CFA francs per year to source raw materials from ALUCAM. This makes him the main and strategic partner at the leader of the aluminum industry in Central Africa ALUCAM. For Hayssam EL JAMMAL, Chairman and CEO of PROMETAL Groupe:
This partnership with ALUCAM illustrates above all the ability of national companies to collaborate together.
As for the PROALU site, the commissioning of the industrial complex is scheduled for the first half of 2027.
An avalanche of opportunities for SMEs and employment
An industry mainly intended for the processing of aluminum and the production of aluminum-based products, PROALU S.A. will be installed on an area of approximately 72,000 square meters. As a major player in the steel industry in Central Africa, PROMETAL Group plans to create more than 1000 indirect jobs and 450 direct jobs through this project. In addition to this, the reduction in imports will be effective because by producing locally aluminum and pre-painted sheet coils, pre-painted steel coils, cables, sandwich panels and composite panels, Cameroon will reduce its dependence on foreign markets. The balance of trade will be noticeable through import substitution. This will improve macroeconomic indicators and promote regional exports. In addition, the local processing of raw materials will generate additional revenue for the state and companies.
The deployment of PROALU in the field
The industry will be able to produce an average of 60,000 tonnes of aluminium coils and pre-painted coils and 8,000 tonnes of electrical cables per year. During the foundation stone laying ceremony, Prime Minister Chief Dr. Joseph Dion NGUTE in his keynote speech, underlined the determination of the Head of State to promote the import substitution policy in order to boost the economy. For him:
PROALU is part of a logic of regional integration and industrial sovereignty. The government, aware of the energy and logistics challenges, is committed to providing long-term support to those involved in the transformation.
Strategic partnerships support PROALU
The CEO of PROMETAL Groupe did not fail to thank in particular the financial partners who believed in the project by arranging the financing, in particular BGFI Capital, Société Générale Côte d’Ivoire, represented by Structure Finance Group (SFG) and AFRILAND FIRST BANK. This results in a contribution by bank of 15 billion, 550 million for the BGFI GROUP, 15 billion for SOCIETE GENERALE CAMEROUN, 15 billion for PROPARCO and 8 billion, 900 million for AFRILAND FIRST BANK CAMEROON.
The union of these four financial institutions around PROALU illustrates a new dynamic : that of a banking sector that is no longer content to observe, but to invest, support and shape the country’s industrial future.
It should be noted that before PROALU, PROMETAL Groupe had already marked the year 2024 with the inauguration of the PROMETAL 4 and PROMETAL 5 plants. These two production units have been designed to consolidate the steel value chain in Cameroon. PROMETAL 4 is dedicated to the production of rebar, wire rod, other steel products, while PROMETAL 5 focuses on the production of domestic gas cylinders (PROGAZ) and metal structures (PROFAB). These industries have enabled the country to take an industrial step from dependence on imports to regional export capacity, while strengthening Cameroon’s productive autonomy.
PROALU, more than a factory, is a strategic lever for the industrialization of Cameroon, a catalyst for inclusive growth and a symbol of the national ambition towards emergence.
