PROJECT

Projects

Environmental & Social Review Summary

Project Number

47904

Company Name

PRECIOUS SHIPPING PUBLIC COMPANY LIMITED

Date ESRS Disclosed

Dec 4, 2023

Country

Thailand

Region

East Asia and the Pacific

Last Updated Date

Apr 7, 2024

Environmental Category

B - Limited

Status

Active

Previous Events

Approved : Jul 14, 2023
Signed : Oct 25, 2023
Invested : Apr 5, 2024

Sector

other

Industry

other

Department

Regional Industry - INF Asia & Pac

Project Description

 The proposed investment consists of a debt facility to Precious Shipping Public Company Limited (“PSL” or the “Company”), to be drawn down over the next 24 months to support the company's plan to purchase up to six Ultramax / Handysize bulk carrier vessels (Project Vessels). Each Project Vessel will be owned and operated under a special purpose company (all six special purpose companies are collectively called Project Companies).

                                                  

Overview of IFC's Scope of Review

 PSL is an existing IFC client through project # 45146 (https://disclosures.ifc.org/project-detail/ESRS/45146/psl-ultratech). PSL’s environmental and social (E&S) performance in the existing investment is satisfactory. The same requirements that were agreed as part of IFC’s existing investment will also be applicable for the project companies and Project Vessels. Accordingly, IFC’s appraisal focused on PSL’s corporate E&S management system (ESMS) that will be applied to Project Vessels and the status of implementation of the E&S action plan (ESAP) that was agreed as part of IFC’s existing investment.                                                  

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan