According to EBRD website, it will be allocated two loans of up to US$70 million, in aggregate, to FE Indorama Agro LLC to support its capital expenditure and working capital needs.
The main idea of the project is based on supporting a significant private sector investment into the cotton farming sector in Uzbekistan. It will promote mechanized cotton harvesting and bring significant environmental and operational improvements including:
The project is expected to strengthen competitiveness and enhance economic inclusion. The project includes significant operational restructuring in crop farming to facilitate improved operational efficiency and aims to introduce internationally accredited standards similar or equivalent to the Better Cotton Initiative for sustainable cotton farming in Uzbekistan.
FE Indorama Agro LLC is owned by Indorama Holdings B.V., a subsidiary of Singapore-domiciled Indorama Corporation Pte. Ltd. (IRC).
IRC is the holding company of Indorama Group, one of Asia's leading industrial conglomerates with wide interests in petrochemicals, fertilizers & related downstream businesses. IRC is wholly-owned for the benefit of Mr. S.P Lohia & his family. Indorama Group was established in 1975 in Indonesia.
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at email@example.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.
Mr. Amit Jain
+998 71 233 2264
11/1 Amir Temur Avenue, Mirobod district, 100100 Tashkent, Uzbekistan