IVL is a global intermediate petrochemical producer and one of the largest vertically integrated polyester value chain producers in the world, serving global brands in diversified end-use markets including food, beverages, mobility, personal care and health care. IVL is headquartered in Bangkok, Thailand, and geographically diversified with over 110 operating sites in 33 countries across five continents and employs over 24,000 employees.

IVL is a publicly listed on the Stock Exchange of Thailand. The Lohia Family (SP Lohia and his brother Aloke Lohia), are the largest shareholders of IVL with a 64.75% holding while the balance 35.25% of the shares are held by institutional and retail shareholders.

 The Project is expected to cost US$300 million and will be funded with an IFC A Loan of up to US$150 million, and up to US$150 million in parallel loans.

 The expansion of recycled PET capacity and other sustainability projects will be implemented across IVL’s existing and planned manufacturing facilities in Thailand, Philippines, Indonesia, India, and Brazil.

This is a Category B project according to IFC's Policy on Environment and Social Sustainability (2012). Based on information reviewed by IFC, the proposed project will have limited adverse E&S impacts that are few, site specific, largely reversible and readily addressed through existing mitigation measures and good international industry practices (GIIP).

Key E&S issue and risks associated with the project include: the company's corporate EHS management and monitoring systems to assess and manage E&S risks and impacts from its operations, as well as those related to the supply chains for the facilities covered under the project; consistent management of labor and working conditions and occupational health and safety (OHS) policies and practices; resource efficiency measures; monitoring and management of air emissions, waste and wastewater and hazardous materials; emergency planning and response, including that for COVID-19 pandemic, impacts on nearby community health and safety and the company's stakeholder engagement activities related to E&S aspects.