PROJECT

Projects

Summary of Investment Information

Project Number

31566

Company Name

OLAM INTERNATIONAL LIMITED

Date SPI Disclosed

Apr 24, 2013

Country

World Region

Region

Global

Projected Board Date

May 27, 2013

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Nov 30, 2016

Department

Gbl Ind, Manufact, Agribus & Services

Industry

Agribusiness and Forestry

Previous Events

Approved : Jul 18, 2013
Invested : Dec 10, 2013

Sector

Diversified Edible Agricultural Crops Production

Project Description

IFC is considering an up to US$120 million loan facility to Olam International Limited (“Olam” or the “Borrower”), a global supply chain management group headquartered in Singapore and listed on the Singapore Stock Exchange (SGX: Olam). The proceeds of the loan provided by IFC shall be used for: (a) partial refinancing of existing financial debt of Olam’s subsidiaries in respect of Approved Projects pre-agreed between Olam and IFC; and (b) financing permanent working capital and capital expenditure requirements in respect of Approved Projects. Approved Projects are projects of Olam’s subsidiaries that are pre-agreed between Olam and IFC in the Loan Agreement. Currently, approved projects are expected to consist of the following:
India – Hemarus Industries Limited - Sugar and Cogeneration Facility Acquisition and Upgrade
India – SVI Spices Processing Facility Upgrade
Nigeria – Crown Flour Mill Factory Expansion
Nigeria – Greenfield Cashew Nut Processing Plant
Nigeria – Greenfield Sesame Hulling Unit - Relocation of Existing Facilities and Upgrade

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation