DCM Sugar (IFC-42346)

Countries
  • India
Where the impacts of the investment may be experienced.
Specific Location
Ajbapur, Uttar Pradesh
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.
Borrower
DCM Shriram Limited
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • 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)
$ 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)
$ 86.10 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 27, 2019

Disclosed by Bank Mar 22, 2019


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Project Description

According to the bank website, the project will "support (a) a brownfield expansion of its existing sugar plant at Hariawan (located in Hardoi district in Uttar Pradesh) by an incremental 5000 tons of cane per day (TCD); (b) an installation of a 30 MW cogeneration power plant using bagasse as fuel in Hariawan; and (c) an expansion of its distillery capacity in Ajbapur."

Investment Description
  • International Finance Corporation (IFC)
Private Actors

According to IFC, "DCM Shriram Limited is a publicly listed company on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India with revenues of approximately US$ 1.06 billion and Net Profit of approximately US$ 104 million for the financial year ended March 31, 2018. The Company had a market capitalization of approximately US$ 866 million as of February 22, 2019. The Sponsors, led by Mr. Ajay S Shriram, Mr. Vikram S Shriram and Mr. Ajit S Shriram. collectively control approximately 66% of the shares in DCM Shriram and the rest of the shareholding is widely held by institutional and other public shareholders."

Contact Information

DCM Shriram Limited
Mr Himanshu Bokaria
Additional General Manager
91 11 42100200
himanshubokaria@dcmshriram.com
1st Floor, Kanchenjunga Building, 18 Barakhamba Road, New Delhi - 110001
www.dcmshriram.com

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/