As stated by the IFC, the proposed IFC investment seeks to support Star Garments Group (Private) Limited (SGG), a Sri Lankan garments manufacturing company and wholly owned subsidiary of Charles Komar & Sons to build a greenfield Cut-Make-Trim operation in Togo through a newly formed subsidiary.
The financing package is to be made up of an IFC A-loan of US$7.5m and an IDAPSW subordinated loan of US$7.5m. The location of the new facility funded under the Project is situated within the Plateforme Industrielle d’Adétikopé which is 22km from national capital Lomé city center in Togo.
The Project will allow it to increase its production of apparel (i.e., dresses, blouses, kids’ wear, etc.) exported to international retailers, while diversifying its manufacturing locations out of Sri Lanka, into Togo. SGG currently operates 10 factories and one innovation center in Sri Lanka. Total employment in SGG is about 8600 workers of which approximately 70% being females. The Project will create 2,000 new jobs.
The construction of the Togo factory will start during Q4, 2023 and is planned to be completed in 18 months. The project will lease 3.7 ha out of existing 328 ha of the industrial park.
As stated by the IFC, Star Garments Group is 100% owned by Charles Komar & Sons (Komar), a US-based family-owned group.
Star Garments Group (SGG) is a Sri Lanka-based major apparel manufacturer. Komar sources garments from global suppliers, including SGG, and sells them under own brands, licensed brands as well as clients’ brands to leading retailers and brands in the US, Canada, UK and other markets.
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Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Client - Star Garments Group (Private) Limited:
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