Time Technoplast (IFC-40768)

Countries
  • India
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
Approved
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 28, 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
TIME TECHNOPLAST 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)
$ 40.00 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 May 29, 2018


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Project Description

This investment involves a loan of approximately US$40 million to fund the capital expenditure of Time Technoplast Limited in India. Time Technoplast Limited is India’s largest manufacturer of polymer-based industrial packaging products (e.g. plastic drums, tanks, pails, pallets, Intermediate Bulk Containers). The expected impacts of project are:

(i) Improved customer access to more packaging and other value-added products.

(ii) Positive environmental effects due to recycling of polymer.

(iii) Positive economywide effects due to creation of additional direct and indirect jobs.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Time Technoplast Limited in an India-based multinational company that manufactures and markets polymer products in India, Bahrain, Egypt, Indonesia, Malaysia, the United Arab Emirates, Taiwan, Thailand, and Vietnam. It operates in two segments, Polymer and Composite. 

Contact Information

For inquiries about the project:

Time Technoplast Limited 
Mr. Bharat Vageria, Mr. Sandip Modi 
Director, Senior Vice President 
+91 22 7111 9213 / 7111 9999 
bv@timetechnoplast.com 
55, Corporate Avenue, Saki Vihar Road,Andheri (East), Mumbai 400 072, Maharashtra, India 
www.timetechnoplast.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 for project documentation 

 Mr. Bharat Vageria / Mr. Sandip Modi  

 S. No. 360/9,10,11, Shree Ganesh Industrial Estate, Kachigam, Daman (Union Territory), 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/