Camlin (IFC-39750)

Countries
  • India
Where the impacts of the investment may be experienced.
Specific Location
State of Gujrat
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
Jun 8, 2018
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
CAMLIN FINE SCIENCES LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • 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)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 9, 2019

Disclosed by Bank Jun 29, 2018


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Project Description

The International Financial Corporation will invest in Camlin Fine Sciences Limited (Camlin) in the State of Gujrat. Camlin a private company that is engaged in research, development, manufacturing, and marketing of specialty chemicals and blends.

The USD 30 million loan in the project proposes to:

a) Improve Acess: This will ensure availability of diphenols and produce a range of their derivatives, such as antioxidants, performance chemicals and aroma chemicals which are used in food products, supplements, animal feed, pharmaceuticals and agrochemicals. 

b) Lower Prices: The cost of production of diphenols at the Dahej facility is expected to be lower than the cost at existing diphenols plant in Italy. IFC expects some of the cost savings to translate into lower price for the customers.

c) Increase employment: The Project will create high skilled jobs and allow for skills upgrading of the local employees through training and technology transfer from the facility in Italy to the Dahej plant.

d) Environmental Effects: The new plant in Dahej will have higher efficiency in terms of waste management, greenhouse gas emissions, energy consumption and other operational efficiencies as compared to Camlin's existing plant in Italy.

e) Competitiveness: The Project will help Camlin innovate new product formulations that improve the quality of specialty chemicals and make the manufacturing process more cost effective, more customized to meet local needs, and environmentally friendly.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Camlin is a private company that is engaged in research, development, manufacturing, and marketing of specialty chemicals and blends, which are used in a wide array of food, feed, animal and pet nutrition, fragrance, pharmaceutical and industrial products.

Contact Information

 

Borrower/Client/Recipient

Camlin Fine Sciences Limited 
Mr. Santosh Parab 
Chief Financial Officer 
+91 22 6700 1000 
santosh.parab@camlinfs.com 
Plot No, F/11-12, WICEL, Opp. SEEPZ Main Gate, Central Road, Andheri (E), Mumbai – 400093, India 
www.camlinfs.com 

Local Access for Project Documentation

Camlin Fine Sciences, Plot No. F/11-12, WICEL, Opp. SEEPZ Main Gate, Central Road, Andheri (E), Mumbai – 400093, India.

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/