According to the bank website, the proposed investment will support the Company in setting up a greenfield off-highway tyre (OHT) manufacturing facility in India (the “Project”). The proposed facility is expected to have a manufacturing capacity of 70,000 metric tonnes (MT)/annum built in two phases. The construction of Phase-1 with a capacity of 40,000 MT/annum is expected to be operational by June 2020. Construction of Phase-II with additional capacity of 30,000 MT/annum will start after Phase-I is operational and it is expected to become operational by March 2024. The main operations at the facility will include raw materials preparation and mixing, component making, tire building, tire curing and finishing. The key raw materials will include rubber (natural and synthetic), carbon black, process oils, chemicals, clay and tire cord.The proposed investment is (i) a senior A-loan for S$ 30 million and (ii) equity of INR 542 million for the project.
The IFC website at the time of writing has marked company name as Pending.
No project-specific contact information available at time of writing.
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