PROJECT

Projects

Environmental Review Summary

Project Number

23511

Company Name

RAK CERAMICS COMPANY

Date ERS Disclosed

May 27, 2004

Country

Iran, Islamic Republic of

Region

Middle East

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Apr 27, 2004
Signed : Jun 23, 2004
Invested : Nov 9, 2004

Sector

Glazed Ceramic Tiles

Industry

other

Department

Regional Industry MAS MCT

Project Description

The project involves the provision of a loan to RAK Ceramics Iran (RAK Iran) and RAK Ceramics UAE (“RAK UAE” , or the company) to finance construction of a ceramic tiles factory in Iran. The project is designed to have state-of-the-art technology and the ability to produce high margin, good quality, affordable tiles for the local markets. The company is one of the largest ceramic tiles and sanitary ware companies in the world with an annual capacity of 2.5 million pieces of sanitary ware and over 40 million square meters of ceramic tiles. The company has manufacturing plants in the U.A.E., China, Bangladesh, Slovakia and Sudan, and sales and distribution offices in France, Germany, Switzerland, and Australia. RAK UAE''s products are exported to more than 125 countries across 5 continents. The company works closely with leading European ceramic machinery manufacturers and uses modern technology which it continuously upgrades each time a new line is constructed.

Environmental and Social

Conclusion & Monitoring