The sponsors include Mr. Mohammad Mustafa Haider, Ms. Farzana Afroze, and Ms. Rizwana Afroze (collectively referred to as the “Sponsors”).                            

 The total Project cost is estimated at US$83.2 million and is proposed to be financed with long-term debt totalling US$58.3 million and the balance of US$24.9 million will be financed through equity.

IFC will provide a senior-secured A Loan of up to US$40 million.    

    The Project is located in Mirsarai Economic Zone, approximately 70 km north of Chittagong port, Bangladesh.                        

 This is a Category B project according to IFC’s 2012 Policy on Environmental and Social Sustainability. The proposed project will have limited adverse E&S impacts that are site-specific and addressed through mitigation measures, defined in the project ESIA Study (including the proposed HAZOP / Quantitative Risk Assessment (QRA) and the attached ESAP, and Good International Industry Practices (GIIP). Key E&S issues and risks are (a) company's corporate and plant-level systems to assess and manage E&S risks and impacts during the construction and operation phase from its direct and sourcing operations, including contractor E&S management and safe working conditions; (b) assurance of fair and safe  labor and working conditions, including occupational health and safety (OHS) policies and practices, emergency preparedness plan and response (e.g. explosion risk), and life & fire safety (L&FS) risks in compliance to national/local regulations and PS2 requirements; (c) resource efficiency; (d) management and monitoring of air emissions, effluents, solid waste, and hazardous materials; (e)  health and safety impacts on nearby community from land and sea traffic and use of security forces;  (f) traceability and risk screening of raw material sourcing, including soybean; and, (g) effectiveness of the stakeholder engagement plan and community grievance mechanism.