SAFCO Venture is owned by Taimur Shaikh, Ali Shaikh (together, the “Sponsors”). SAFCO Pakistan is 100% owned by SAFCO Venture. SAFCO Venture will be the IFC investee company.

 The total Project cost is estimated at US$121 million. The proposed IFC investment is a financing package of up to US$35 million, consisting of (i) up to US$30 million in the form of preference shares and shareholder loans, of which US$10 million is contributed by IFC as implementing entity of Blended Concessional Finance (“The Preferred Equity”), and (ii) up to US$5 million in A-loan, to SAFCO Venture Holdings Limited.

The Project is located in an industrial area at 14-Km, Sharaqpur road, District Lahore, in Pakistan adjacent to BTE’s biodiesel manufacturing facility.

No governance risks to development impacts have been identified. The Company will undertake a corporate governance advisory program led by IFC and will implement a corporate governance action plan prepared by IFC Corporate Governance team. The corporate governance action plan is intended to enhance the Company’s governance ensuring transparency, accountability, and effective decision making.

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability (2012). Based on the 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 issues and risks include (i) the company's management and monitoring systems to assess and manage E&S risks and impacts from the BTE’s operations, including operations of port terminals, as well as those related to the construction and operation of the SAF facility funded under the project including contractor management; (ii) management of labor and working conditions and occupational health and safety (OHS) policies and practices; (iii) supply chain management related to oil feedstock; (iv) chemicals handling and storage; (v) monitoring and management of air emissions, waste, wastewater, and hazardous materials; (vi) process safety risks to adjacent land users; (vii) community safety including traffic safety risks; (viii)  management and monitoring of security personnel; and (ix) the company's stakeholder engagement activities related to E&S aspects.