The Project Sponsor is the Chinese-based Shandong Zhaowei Steel Tower Company Ltd. (“Zhaowei”). Zhaowei, founded in 2007, manufactures transmission and telecommunication towers, cables and other steel structures. Zhaowei’s principal shareholders are Mr. Li Jin, founder and Chairman, and Mr. Wang Hongqi. Woda was founded in 2015 and is majority owned by Zhaowei.

  The total Project cost is estimated at USD20 million. The proposed investment is an A-loan for IFC’s own account of up to USD20 million.                                                 

  The Project will be in Woda’ existing plants in the Woda Industrial Park, Sheger-Sub City, Sebeta City, about 21 kilometers west of Addis Ababa, Ethiopia.

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).

The key E&S risks and issues include (i) the company's management and monitoring systems to assess and manage E&S risks and impacts from its operations, as well as those related to the supply chain, (ii) assurance of fair, safe and healthy working conditions for direct and contract workers, including adequate grievance management, (iii) management of energy and water efficiency, (iv) life and fire safety and emergency preparedness, and (v) the management and control of potential supply chain risks and impacts.