Srinivasa operates an integrated layer and broiler breeding business in India and is headquartered in Hyderabad, Telangana (TS). The Company has presence in soya, feed, layer and broiler breeding and contract farming.

The Chairman of Srinivasa, Mr. Jagapati Rao Chitturi started Srinivasa in 1965 and has over five decades of experience across all facets of the poultry industry. The Company is now managed by his son Mr. Suresh Chitturi. The family collectively owns 80.04% of the Company.

The total project cost is estimated at US$83 million and IFC’s proposed investment is up to INR equivalent of US$23 million investment in the form of straight equity / compulsorily convertible preference shares / compulsorily convertible debentures in the Company.

This is a Category B project in accordance with IFC’s Environmental and Social Sustainability Policy, as the proposed investment is expected to have limited environmental and social impacts which are few, site-specific, temporary and none regarded to be significant. Project related impacts can be avoided or mitigated by adhering to recognized performance standards, procedures, guidelines and design criteria as described in the following sections. The project is designed to avoid, minimize and manage environmental and social risks and impacts of the Company’s operations in compliance with applicable IFC Performance Standards and World Bank Group (WBG) General and sector-specific Environmental, Health and Safety (EHS) Guidelines for Poultry Production, Poultry Processing & Vegetable Oil Production and Processing.

Key E&S issues applicable to this investment are: consistency of EHS management across the different operations, including contract farming; EHS management on contract farms with respect to,  labor and working conditions, assurance of fair, safe and healthy working conditions for all workers; certified food safety management systems; optimization of water and energy use through project design and resource conservation measures and greenhouse gas emissions; wastewater collection and treatment, air emissions from incinerators, generators and boilers; solid and hazardous waste management, infectious / pathogenic waste handling and disposal, management and control of pests and vectors; emergency response and preparedness (biosecurity); and community engagement.