KICT is a 100% subsidiary of ICTIPL – whose shareholders are the J.M. Baxi Group and Integral Investment South Asia VIII. ICTIPL was established in 1947 and began operations as a provider of shipping support services and gradually expanded its service offerings to container handling, cargo consolidation, shipping agency services, ship chartering etc. The J.M. Baxi Group has over 100 years of operating history during which it has successfully transformed into one of India’s largest integrated maritime logistics player, with a vast network of offices in India & overseas and a good understanding of the industry.

The total cost of the Project is estimated at US$32.0 million. The proposed investment involves IFC senior debt of up to US$30.0 million in INR.

 KICT is situated on the shores of the Kandla Creek which runs into the Gulf of Kutch, on the west coast in the state of Gujarat, India.

  No governance risks to expected development impacts are noted 

The project primarily involves purchase of equipment to increase the capacity of the container terminal; key risks and impacts will therefore be limited within existing premises of KICT and the project is not expected to result in any new significant adverse E&S risks and/or impacts. Accordingly, this is a Category B project as per IFC’s Policy on Environmental and Social Sustainability and key risks and impacts are limited, largely reversible and can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Further, it is possible to readily design and implement engineering and management measures to mitigate the limited risks and adverse impacts. 

Key E&S issues related to the project and reviewed at appraisal are: the company's management and monitoring systems to assess and manage E&S risks and impacts from its operations; assurance of fair, safe and healthy working conditions for employees and contracted workers in line with the legal and PSs requirements and consistent management of occupational health and safety (OHS) policies and practices; monitoring and management of air emissions, waste and wastewater and hazardous materials; emergency response preparedness and response including that for COVID-19 pandemic and community engagement activities related to E&S  commensurate to the risks and impacts associated with the company's operations.