PSL - Ultratech (IFC-45146)

  • Thailand
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 14, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Industry and Trade
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 17, 2022

Disclosed by Bank Jun 29, 2021

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC's website, "the proposed investment consists of a loan to five wholly owned subsidiaries of Precious Shipping Public Company Limited (“PSL” or the “Company”), based on securitization of the cashflows available to PSL under long term charter contracts with Ultratech Cement Limited (“Ultratech”) for five operating ships (four specialized cement carriers and one dry bulk vessel) (the “Project”)".

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

According to bank's website, "the proposed IFC financing will be a senior Sustainability-Linked Loan (SLL), to the Project Companies comprising: (i) an IFC A loan of up to US$60 million for IFC’s own account, (ii) up to US$25 million of an IFC B loan for the account of B loan participants and/or parallel loans from parallel lenders, and (iii) interest rate swaps. The senior loans will have a tenor of eight years, will be secured by the assets, cashflows and shares of the Project Companies and guaranteed by PSL as the parent entity".

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

PSL is one of the world’s largest pure dry cargo ship-owning companies operating in the geared (10,000 to 69,000 dead weight tonnage) sector of the tramp freight market. PSL currently operates 36 dry bulk ships with a total capacity of 1.6 million dead weight tonnage. PSL is a member of the GP Group, a 150-year-old diversified Thai conglomerate with businesses across shipping, pharmaceuticals, construction, and mining sectors.  PSL was established in 1989 and was listed on Stock Exchange of Thailand in 1993.      

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Contact Information:

Ms. Sirasa Supawasin

Precious Shipping Company Limited

Mobile: +66951505456

Email Address:


Precious Shipping Public Company Limited
Gautam Khurana
Director (Finance)
+66 2 696 8858
8 North Sathon Road, Silom, Bangrak, Bangkok, 10500, Thailand



You can submit a request for information disclosure at:

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFCÕs Access to Information Policy Advisor, who reports directly to IFCÕs Executive Vice President.


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 You can learn more about the CAO and how to file a complaint at

How it works

How it works