Listed on the Indonesia Stock Exchange (IDX) in September 2019, GRP has a market capitalization of IDR5.01 trillion (US$308 million) as of May 29th, 2024. The Company (under a different name) was founded by six siblings in 1970 in Medan, Sumatra Province and later moved to Jakarta in 1991. Currently, first- and second-generation members of the founding family, directly and indirectly own 90.3 percent of GRP shares. The remaining 9.7 percent is held by the public.

 IFC’s proposed financing will comprise up to US$60 million (equivalent in IDR) in the form of a senior-secured A loan with a seven-year maturity. The proposed investment will be used to fund capital expenditure and working capital needs associated with GRP’s flat steel business, including (i) downstream capacity expansion through the set-up of a new steel coating line; (ii) cost efficiency and productivity improvement measures related to existing?equipment; and (iii) scrap inventory.                                                   

The project location is at GRP’s manufacturing facility in Cikarang Barat, West Java Province, Indonesia.                                                    

This is a Category B project according to IFC's Policy on Environment and Social Sustainability (2012), with potential limited adverse environmental or social risks and/or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures.

Key issues associated with the project include i) effectiveness of the company’s E&S management system, including occupational health and safety (OHS), ii) ensuring alignment of human resources with PS:2: Labor and Working Conditions, iii) management of air emissions, hazardous materials, and disposal of wastes in accordance with the good practice, iv) stormwater management, and v) public safety and stakeholder engagement.