The shareholding of the Project will be held by the Hussain and Yusufzai families of Pakistan (collectively the “Sponsors”) directly and indirectly. The Sponsors also own Zafar Enterprises in Pakistan and Zafco Holdings in the UAE, both operating in the tyre distribution business.

The total estimated Project cost is up to US$92 million which will be funded by Sponsors’ equity, local currency loans and an up to US$25 million A Loan from IFC.

The Project will be built on a 50.25 acres land parcel, located on the outskirts of Karachi, Pakistan.

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).

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 construction and operations of the new tyres facility funded under the project; ii) natural rubber supply chain management; iii) management of labor and working conditions and Occupational Health and Safety (OHS) policies and practices; iv) monitoring and management of air emissions, waste, wastewater, and hazardous materials; v) sustainable use of groundwater resources; vi) life & fire safety risk management measures and emergency preparedness and response; and vii) the company’s stakeholders engagement activities related to E&S aspects.