PROJECT

Projects

Summary of Investment Information

Project Number

46500

Company Name

KES Group Corporation

Date SPI Disclosed

Jan 5, 2024

Country

Viet Nam

Region

East Asia and the Pacific

Projected Board Date

Feb 6, 2024

Environmental Category

B - Limited

Status

Active

Last Updated Date

May 22, 2024

Department

Regional Industry - MAS Asia & Pac

Industry

Agribusiness and Forestry

Previous Events

Approved : Feb 5, 2024
Signed : Mar 8, 2024
Invested : May 16, 2024

Sector

Wood Panels and Engineered Wood Products

Project Description

KES Group Corporation (“KES” or “the Company”) is the largest Vietnamese producer of engineered wood panels, focusing on Medium Density Fiberboard (“MDF”) products and the leading provider of innovative solutions for the construction and interior industry. The Company currently has an annual MDF production capacity of 500,000 m3, an annual flooring production capacity of 6.5 million sqm and an annual melamine paper printing and dipping production capacity of 40 million sqm.                                     

The proposed IFC financing will support the Company’s vertical integration strategy, provide funding for a new warehouse and maintenance capex and working capital for MDF production (“the Project”).

Associated Advisory Engagement

IFC is exploring an advisory opportunity to support the Company on obtaining green building certification for its new warehouse and distribution showrooms.                                                

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation