Engro Polymer Phase 3 (IFC-41160)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • Pakistan
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
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.
Borrower
ENGRO POLYMER & CHEMICALS 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)
$ 35.00 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)
$ 92.30 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 Sep 16, 2018

Disclosed by Bank May 24, 2018


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Project Description

ENGRO Polymer & Chemicals Limited is undertaking capacity and productivity enhancement plan and has invited IFC to consider supporting its investment program. Engro Polymer and Chemicals Limited engages in the manufacture, marketing, and sale of poly vinyl chloride, vinyl chloride monomer, caustic soda, hydrochloric acid, and sodium hypochlorite in Pakistan.

The proposed project aims to: 

  • Improve availability and affordability of high quality Polyvinyl Chloride Resin and caustic flakes
  • Strengthen competitiveness of local industries that consume these products
  • Create jobs
  • Transfer of technical and managerial know-how                  
Investment Description
  • International Finance Corporation (IFC)
Private Actors

Engro Polymer and Chemicals Limited engages in the manufacture, marketing, and sale of poly vinyl chloride, vinyl chloride monomer, caustic soda, hydrochloric acid, and sodium hypochlorite in Pakistan.

Contact Information

For inquiries about the project 

Engro Polymer & Chemicals Limited 
Syed Abbas Raza 
Chief Financial Officer 
+92-21-35166863-64 
saraza@engro.com 
Clifton Khayaban-e-Iqbal, Karachi-75600Pakistan 
www.engropolymer.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

Local access for project documentation

Engro Polymer & Chemicals Limited

12th Floor, Ocean Tower, G-3, Block 9,

Clifton Khayaban-e-Iqbal, Karachi-75600

Pakistan            

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/