According to the Bank’s website, the proposed IFC investment involves a 10-year senior secured loan of up to US$130 million to Aarti Industries Limited (“AIL”). The proposed loan will be utilized towards capacity expansion, modernisation and debottlenecking initiatives in Jhagadia and Dahej, in the state of Gujarat, India, which consists of: (i) expansion of nitro toluene capacities at Jhagadia, (ii) expansion of ethylation capacities at Dahej, (iii) setting up of a chloro-toluene and its derivatives plant at Jhagadia, (iv) setting up of multi-purpose plants and pilot plants for customized manufacturing at Jhagadia, and (v) expansion and debottlenecking of other existing capacities at Jhagadia and Dahej. IFC’s loan is structured as a Sustainability Linked Loan (SLL) and builds in incentives for the Company to meet agreed emission reduction targets.
|Private Actor 1
|Private Actor 1 Role
|Private Actor 1 Sector
|Private Actor 2
|Private Actor 2 Role
|Private Actor 2 Sector
|AARTI INDUSTRIES LIMITED
Aarti Industries Limited
Chief Financial Officer
+91 22 6797 6666
71, Udyog Kshetra, 2nd floor, Mulund Goregoan Link Road, Mulund (West), Mumbai-400080, Maharashtra, India.
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
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 IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
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