Haid Intl (IFC-39543)

Countries
  • India
  • Vietnam
Where the impacts of the investment may be experienced.
Specific Location
Long An province, Vietnam and India.
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 30, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
HAID INTERNATIONAL GROUP LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Construction
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 103.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 22, 2017

Disclosed by Bank Oct 25, 2017


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Project Description
Founded and headquartered in Guangdong since 1998, Guangdong Haid Group Co., Ltd (“Haid”) is one of China’s leading animal and aqua feed producers, with sales of US$4 billion and a market capitalization of US$3.7 billion. The Project is to expand Haid’s overseas aqua feed operations in the developing countries. Haid International Group Limited (“ Haidco”) is one of Haid's overseas subsidiaries, the key channel for Haid's overseas aqua feed expansion, and the borrower of the IFC Loan. The Project will be carried out by Haidco's operating subsidiaries and/or affiliates in the respective developing countries (collectively called “Haid Intl”). Specifically, Haid will add 2 shrimp feed lines and 1 fish feed line in Vietnam, and construct 1 new shrimp feed mill in India. Haid's overseas aqua feed capacity will hence increase from the current 200,000 MT to no less than 450,000 MT. The total project cost is estimated at US$103 million, including capital expenditures and working capital (re)financing.
Investment Description
  • International Finance Corporation (IFC)
Haid, the Sponsor, is a public company listed on China's Shenzhen Stock Exchange (ticker: 002311.SZ). The general public owns 42% in Haid. The remaining shares are owned by Guangzhou Haihao Investment Co. Mr. XUE Hua, the Chairman, owns 22.88% in Haid through this investment entity.
Contact Information
1/Project Contact Information Haid International Group Limited Overseas Chief Finance Officer dingbl@haid.com.cn Block A05, Duc Hoa 1 Industrial Park, Hamlet 5, Duc Hoa Dong Commue, Duc Hoa Distr Long An Province, Viet Nam www.shenglongbt.com 2/IFC Contact Information General IFC Inquiries IFC Communications 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384 3/Project Access Documentation www.shenglongbt.com ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/