Camlin (IFC-39750)

Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
State of Gujrat
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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 8, 2018
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.
Borrower
CAMLIN FINE SCIENCES LIMITED
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 9, 2019

Disclosed by Bank Jun 29, 2018

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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.

The International Financial Corporation will invest in Camlin Fine Sciences Limited (Camlin) in the State of Gujrat. Camlin a private company that is engaged in research, development, manufacturing, and marketing of specialty chemicals and blends.

The USD 30 million loan in the project proposes to:

a) Improve Acess: This will ensure availability of diphenols and produce a range of their derivatives, such as antioxidants, performance chemicals and aroma chemicals which are used in food products, supplements, animal feed, pharmaceuticals and agrochemicals. 

b) Lower Prices: The cost of production of diphenols at the Dahej facility is expected to be lower than the cost at existing diphenols plant in Italy. IFC expects some of the cost savings to translate into lower price for the customers.

c) Increase employment: The Project will create high skilled jobs and allow for skills upgrading of the local employees through training and technology transfer from the facility in Italy to the Dahej plant.

d) Environmental Effects: The new plant in Dahej will have higher efficiency in terms of waste management, greenhouse gas emissions, energy consumption and other operational efficiencies as compared to Camlin's existing plant in Italy.

e) Competitiveness: The Project will help Camlin innovate new product formulations that improve the quality of specialty chemicals and make the manufacturing process more cost effective, more customized to meet local needs, and environmentally friendly.

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

Camlin is a private company that is engaged in research, development, manufacturing, and marketing of specialty chemicals and blends, which are used in a wide array of food, feed, animal and pet nutrition, fragrance, pharmaceutical and industrial products.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Camlin Fine Sciences Limited Client -

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.

 

Borrower/Client/Recipient

Camlin Fine Sciences Limited 
Mr. Santosh Parab 
Chief Financial Officer 
+91 22 6700 1000 
santosh.parab@camlinfs.com 
Plot No, F/11-12, WICEL, Opp. SEEPZ Main Gate, Central Road, Andheri (E), Mumbai – 400093, India 
www.camlinfs.com 

Local Access for Project Documentation

Camlin Fine Sciences, Plot No. F/11-12, WICEL, Opp. SEEPZ Main Gate, Central Road, Andheri (E), Mumbai – 400093, India.

ACCOUNTABILITY MECHANISM OF IFC

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/

How it works

How it works