Omera LPG (IFC-40464)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • Bangladesh
Where the impacts of the investment may be experienced.
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
Active
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 25, 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
OMERA PETROLEUM LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Energy
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)
$ 20.00 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)
$ 60.00 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 Mar 29, 2019

Disclosed by Bank Apr 20, 2018


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Project Description

IFC is considering an investment of up to US$20 million to support Omera’s expansion plans. Omera Petroleum Ltd. is the second largest liquefied petroleum gas player in Bangladesh, with a throughput capacity of 120,000 metric ton per annum. 

The expansion plan being funded by IFC will include:

  • Increasing propane/LPG storage capacity inside the existing Mongla terminal
  • Enhancing the bottling capacity at satellite stations
  • Purchasing additional cylinders, road tankers / fork lifters, and two river barges.

 

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Omera Petroleum Ltd., a subsidiary of MJL Bangladesh Ltd, is the second largest largest operator in the Liquefied Petroleum Gas sector of Bangladesh with a throughput capacity of 120,000 metric ton per annum.

Contact Information

For inquiries about the project

Omera Petroleum Limited 
Mohammad Asaduzzaman 
Head of Corporate Affairs & Company Secretary 
+880-2-9886311-15 
mohammad.asaduzzaman@omeralpg.com 
Omera House, SW (B) 16, Road 9, Gulshan-1, Dhaka-1212 
http://omeralpg.com/ 

For inquiries and comments about IFC

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

For local access to project documentation

Contact Person: Mohammad Asaduzzaman
Company Name: Omera Petroleum Limited
Address: Omera House, SW (B) 16, Road 9, Gulshan-1, Dhaka-1212
Email: mohammad.asaduzzaman@omeralpg.com
Phone: +880-2-9886311-15
Facsimile: +880-2-9886310

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/