The Project sponsors and shareholders of the Project companies consist of the family members of the late PRAN Group founder Major General Amjad Khan Chowdhury, including his wife Ms. Sabiha Amjad, his son Mr. Ahsan Khan Chowdhury, and his daughter Ms. Uzma Chowdhury (collectively, the Sponsors).                                                  

The total Project cost is expected to be approximately US$56.8 million. IFC proposes to provide debt financing comprising of an A Loan of US$25 million to MAL.                                                                                                       

 Malgaon, Kailgonj, Gazipur, Bangladesh.                                                  

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. 

Key E&S issues related to this project include: (i) MAL’s capacity and systems to assess and manage E&S risk and impacts of the Project during both construction and operations; (ii) assurance of fair, safe and healthy working conditions for all workers including contract workers; (iii) utilization of equipment and operational practices that maximize conservation of energy, water and process materials including recycling and reuse initiatives; (iv) handling of solvents used in manufacturing of packing materials and management of air emissions, wastewater treatment and effluent discharges in compliance with national standards and World Bank Group (WBG) EHS guidelines, and solid and hazardous waste disposal; (v) community safety during construction and operations.