Mohinani Group was founded in Ghana in 1966 by the late Ramchand Mohinani and has 3 major business lines: (i) manufacturing of plastics and packaging; (ii) trading and distribution of chemicals and polymers; and (iii) general goods trading and distribution of electronics, tires, motor bikes. The group is run by three brothers; Ashok Mohinani, Anil Mohinani and Sunil Mohinani. The Group holds its business through two separate holding companies – Eastern Focus Investments Limited (EFI) which owns all the Group’s manufacturing and chemicals trading subsidiaries in Africa and International business (UAE and Hong Kong); and Conifer Investments which owns all the Group’s consumer and electronics trading business in Africa. Polytanks Ghana Limited is a 100% wholly owned subsidiary of Eastern Focus Investments Limited and Sonnex Packaging Nigeria is a 100% wholly owned subsidiary of Confier Holdings Limited. 

 The Project is expected to cost US$55.0 million, comprising of (i) up to US $30.0 million IFC A Loan and (ii) up to a US $25.0 million B2/MCPP Trust Loan, mobilized under the IFC’s Managed Co-Lending Portfolio Program (the MCPP); together the IFC Loan. Additional support will be provided by the IDA20 PSW; the latter will provide a first loss guarantee of a portion of the IFC loan. 

 The proceeds will be utilized for Polytanks Ghana Limited in Ghana and in Sonnex Packaging Limited in Nigeria. Working capital facilities will be utilized by Eastern Focus Investments Limited in the chemicals and polymers trading and distribution business.       

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 associated with the project will include: (a) 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 construction of two new rPET recycling plants and the PET supply chain covered under the Project; (b) consistent management of labour and working conditions and occupational health and safety (OHS) policies and practices; (c) management of contractors; (d) monitoring and management of air emissions, waste and wastewater and hazardous materials and  (e) the company's stakeholder engagement activities related to E&S aspects and PET supply chain.