TTC Viet Nam (IFC-50443)

Countries
  • Vietnam
Geographic location where the impacts of the investment may be experienced.
Specific Location
Provinces of Bien Hoa and Tay Ninh
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."
Borrower
Thanh Thanh Cong - Bien Hoa Joint Stock Company
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Agriculture and Forestry
  • 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)
$ 50.00 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.
Project Cost (USD)
$ 50.00 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.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 16, 2025

Disclosed by Bank Nov 16, 2024

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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.

According to the Bank’s website, the proposed IFC investment is a senior loan of up to US$50 million to Bien Hoa Consumer Joint Stock Company (“BHC”). BHC is a subsidiary of Thanh Thanh Cong - Bien Hoa Joint Stock Company (“TTC AgriS”).

The proceeds from the IFC loan will be used to (i) relocate BHC’s legacy refinery in Bien Hoa province, Viet Nam and build a state-of-the-art modern sugar refinery and logistics hub in Tay Ninh province, incorporating a new warehouse for raw and refined sugar; and (ii) fund BHC’s procurement of imported raw sugar.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

This is a Category B project according to IFC’s 2012 Policy on Environmental and Social Sustainability, as the proposed project is expected to have limited adverse E&S risks and/or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures, as described in the following sections. Key E&S risks and issues for this investment are: (i) capacity and Environmental and Social Management System (ESMS) undertake the project aligned with IFC PSs including standard operation procedures and procedures for dismantling, transport and re-installation of existing plant/equipment; (ii) labor and working conditions, particularly relocation, accommodations, grievance mechanisms, and occupational health and safety (OHS) and oversight management of construction contractors, (iii) energy and resource efficiency; (iv) fire hazard and emergency preparedness and response; (v) stakeholder engagement and grievance mechanism; (vi) Supply chain management for raw sugar.

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

The total Project cost is estimated to be in excess of US$50 million, and IFC is considering the provision of an A Loan of up to US$50 million to support 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.

Headquartered in Tay Ninh Province, Vietnam, Thanh Thanh Cong - Bien Hoa Joint Stock Company (“TTC AgriS”) is the largest producer of sugar and its by-products in Vietnam. Its main products include refined sugar, raw sugar, functional sugar, liquid sugar, organic sugar, and rock sugar.

TTC AgriS is a public company listed on the Ho Chi Minh Stock Exchange. Its major shareholders include Thanh Thanh Cong Investment Joint Stock Company, Legendary Venture Fund 1, Mrs. Huynh Bich Ngoc, and Mrs. Dang Huynh Uc My.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Thanh Thanh Cong - Bien Hoa Joint Stock Company 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.

Thanh Thanh Cong - Bien Hoa Joint Stock Company
Ms. DINH THI NGOC THAO
Acting Treasury Director
+84 90339 8320
fin.dep-mgr@ttcagris.com.vn
1st Floor, Betrimex Building, 62 Tran Huy Lieu Street, Ward 11, Phu Nhuan District, Ho Chi Minh City 72108, Viet Nam
https://ttcagris.com.vn

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

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How it works