Standard Chartered supports Lafarge Emirates Cement’s Waste Heat Recovery project

Standard Chartered supports Lafarge Emirates Cement’s Waste Heat Recovery project

Standard Chartered Bank, a British multinational banking and financial services company, has closed the region’s first transition trade finance facility for Lafarge Emirates Cement, one of the largest cement producers in the UAE, and a wholly owned subsidiary of Holcim Group.

The transition finance facility will support Lafarge Emirates Cement with their latest project, a Waste Heat Recovery (WHR) system. This project will reduce Lafarge Emirates Cement’s reliance on using electricity from the grid to power their operations, thereby supporting their transition to cleaner power sources in line with Holcim’s target of being Net Zero by 2050.

The Waste Heat Recovery solution is being provided by, one of the largest global players in electricity, natural gas, and energy services with a commitment to achieve net zero carbon emissions by 2045. This is also the first Waste Heat Recovery project in the UAE to use Organic Rankine Cycle (ORC) technology.

Rola Abu Manneh

CEO – Standard Chartered UAE “We are pleased to support one of the UAE’s largest cement producers with their journey towards Net Zero. This is in line with the UAE’s vision to achieve Net Zero by 2050 and is aligned with Standard Chartered’s global strategy of mobilizing capital towards green and transition