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According to the Bank’s website, the proposed investment will support Joincare to fund: (i) the expansion for development and production capacity of APIs and finished formulations in Henan and Guangdong provinces, China; and (ii) investment, including working capital needs, related to key therapeutic areas. The additional production capacity created by the Project will enable the Company, given its vertical integration and scale, to produce APIs and intermediates at lower cost and improve the affordability and availability of pharmaceutical products in China and in emerging markets.
This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability (2012). Key E&S issues associated with this Project include: the Company’s management and monitoring systems to assess and manage E&S risks and impacts from its operations, and related to the construction of two new facilities; consistent management of labor and working conditions including occupational health and safety; monitoring and management of air emissions, waste and wastewater, and hazardous materials; resource efficiency measures; management of life and fire safety (LFS) and emergency preparedness and response; and stakeholder engagement activities related to E&S aspects.
The Project is estimated to cost US$275 million and will be funded by the IFC loan of up to US$100 million equivalent, and the Company’s internally generated cashflow.
IFC's Investment as Approved by the Board: Loan 130.0 million (USD)
Founded in 1992 and headquartered in Shenzhen, Joincare Pharmaceutical Group Industry Co., Ltd. is a diversified pharmaceutical manufacturer of chemical drugs, active pharmaceutical ingredient and intermediates, biological drugs and diagnostic reagents and equipment.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Joincare Pharmaceutical Group Industry Co., Ltd. | Client | - |
Joincare Pharmaceutical Group Industry Co., Ltd.
Yifan ZHU
Director
+86 755 86252368
zhuyifan@joincare.com
No. 17 Langshan Road, North District, High-tech Zone, Nanshan District, Shenzhen, Guangdong, China
https://en.joincare.com/
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