PROJECT

Projects

Summary of Investment Information

Project Number

47219

Company Name

SRF LIMITED

Date SPI Disclosed

Jul 14, 2023

Country

India

Region

South Asia

Projected Board Date

Feb 23, 2023

Environmental Category

B - Limited

Status

Active

Last Updated Date

Jul 14, 2023

Department

Regional Industry - MAS Asia & Pac

Industry

Manufacturing

Previous Events

Approved : Feb 23, 2023
Signed : Jun 26, 2023
Invested : Jul 6, 2023

Sector

All Other Chemical Product

Project Description

 The proposed transaction entails an investment of up to US$100 million of senior secured A Loan to SRF Limited (the “Company”). The proceeds of the loan provided by IFC shall be used for financing capital expenditure towards specific identified projects in the Company’s specialty chemicals business, all at Dahej in the state of Gujarat being undertaken at a capital expenditure of US$112 million (the “Project”).                                                  

Associated Advisory Engagement

 A decarbonization advisory engagement is currently under discussion with the Company wherein IFC is expecting to provide advisory services to set sustainability goals and implement decarbonization measures that will facilitate the Company to transition to a low-carbon pathway.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation