Pacific Lime and Cement Limited (ASX: PLA; PNGX: PLC) has announced a strategic partnership with the International Finance Corporation (IFC), a member of the World Bank Group, to provide advisory support for its Phase 2 Central Cement Project in Central Province, Papua New Guinea.
The collaboration marks a major step for PLC and PNG, as the project aims to establish the country’s first vertically integrated clinker and cement production facility, reducing reliance on imports and meeting domestic demand.
IFC will bring global technical expertise and environmental, social, and governance (ESG) standards to the project, aligning it with international best practices and helping to de-risk the path toward full financing and construction. Advisory workstreams will focus on updating bankable feasibility assessments, refining market and financial assumptions, and enhancing environmental and social management systems.
“IFC is a pre-eminent global financial institution in enabling transformational industrial projects in emerging markets,” PLC Managing Director Paul Mulder said. “Their engagement recognises the significance of establishing Papua New Guinea’s first fully integrated clinker and cement production 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 align with IFC Performance Standards, a prerequisite for multilaterals and global financiers. Combined with technical, market, and financial workstreams, the advisory effort reinforces and independently validates the existing bankable feasibility study, positioning the project for international lender due diligence and financing processes.
IFC, the largest global development institution focused on the private sector in emerging markets, operates in more than 100 countries and committed a record $71.7 billion in fiscal year 2025 to private companies and financial institutions in developing nations.
PLC is advancing Papua New Guinea’s lime and cement industry, anchored by its Central Lime and Cement Projects, while supporting local manufacturing, import substitution, and sustainable growth. Its diversified portfolio also includes industrial sands, nature-based forestry carbon credits, and renewable energy initiatives. PLC holds an approximately 16.6% interest in copper-gold explorer/developer Adyton Resources Corporation (TSXV: ADY).
The company aims to support PNG and the broader Asia-Pacific region in their decarbonisation journey by delivering higher-quality, lower-cost, low-carbon inputs for the mining, resources, and construction sectors, complemented by a renewable energy portfolio including solar, wind, geothermal, carbon credits, and battery storage initiatives. PLC emphasises community engagement and adherence to internationally recognised ESG standards across its projects.
