Summary of Proposed Investment
Project Number
10223
Company Name
CONTINENTAL CARBON INDIA LIMITED
Date SPI Disclosed
Nov 20, 2000
Country
India
Industry
Manufacturing
Projected Board Date
Jan 30, 2001
Status
Completed
Sector
All Other Basic Inorganic Chemical
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Feb 8, 2001
Signed : Jun 25, 2001
Invested : Nov 5, 2001
Project Description
The Project Company is Continental Carbon India Limited, which has acquired the carbon black division of OCCL. OCCL is a second tier chemical company in India, established in 1978. OCCL underwent a major corporate restructuring in 2000, with the sale of its carbon black business as part of the project.
The carbon black division of OCCL is currently the fourth largest producer of carbon black in India. The project includes a three-stage investment program including: debottlenecking of the existing carbon black facilities, expansion of the carbon black facilities, and expansion of the electrical co-generation facility.
IFC investment will help the Indian government pursue its endeavors in the corporate restructuring by attracting foreign investment in one of the poorest regions in the country. IFC investment will also contribute to creating a world-class private company through the transfer of state-of-the-art technology and managerial know-how from the sponsor. The project will have a positive social impact by preventing layoffs that would be very likely had OCCL not found a strategic partner for its carbon black business. In addition, the sponsor will have a systematic education program for the local employees.
The carbon black division of OCCL is currently the fourth largest producer of carbon black in India. The project includes a three-stage investment program including: debottlenecking of the existing carbon black facilities, expansion of the carbon black facilities, and expansion of the electrical co-generation facility.
IFC investment will help the Indian government pursue its endeavors in the corporate restructuring by attracting foreign investment in one of the poorest regions in the country. IFC investment will also contribute to creating a world-class private company through the transfer of state-of-the-art technology and managerial know-how from the sponsor. The project will have a positive social impact by preventing layoffs that would be very likely had OCCL not found a strategic partner for its carbon black business. In addition, the sponsor will have a systematic education program for the local employees.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Howard P. Franck
Continental Carbon Company
333 Cypress Run, Suite 100
Houston, TX 77094
USA
Continental Carbon Company
333 Cypress Run, Suite 100
Houston, TX 77094
USA