Summary of Proposed Investment
Project Number
10706
Company Name
CSRC China (Ma'anshan) Chemical Industry Co., Ltd.
Date SPI Disclosed
Apr 30, 2001
Country
China
Industry
Manufacturing
Projected Board Date
Jun 15, 2001
Status
Completed
Sector
Carbon Black
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Jun 26, 2001
Signed : Jan 31, 2002
Invested : Jan 29, 2003
Project Description
The Project Company is CSRC China Corporation, which acquired the carbon black assets from the Maanshan Golden Star Group (“MGSG”), a wholly owned state-owned enterprise (SOE) of the Maanshan city government.
The proposed project is to: i) modernize the existing production lines; ii) expand the carbon black production capacity from 25,000 tpy to 60,000 tp; iii) expand the electrical co-generation capacity from 3.0 MW to 4.5 MW; and iv) improve environmental and safety conditions at the plant.
The IFC investment will help transform an inefficient SOE into a sustainable, world-class business that will operate according to sound commercial principles, strong environmental performance and good corporate governance. IFC''s investment will also promote the transfer of advanced technology and managerial know-how from the Sponsor to the local workforce. The Project will demonstrate innovative ways in addressing the issue of redundant workers from MGSG. By working closely with the Maanshan city government, and creating a new specialized service Small & Medium Enterprise (SME), redundant employees will be employed by providing catering, security, packaging and janitorial services to the Company.
The proposed project is to: i) modernize the existing production lines; ii) expand the carbon black production capacity from 25,000 tpy to 60,000 tp; iii) expand the electrical co-generation capacity from 3.0 MW to 4.5 MW; and iv) improve environmental and safety conditions at the plant.
The IFC investment will help transform an inefficient SOE into a sustainable, world-class business that will operate according to sound commercial principles, strong environmental performance and good corporate governance. IFC''s investment will also promote the transfer of advanced technology and managerial know-how from the Sponsor to the local workforce. The Project will demonstrate innovative ways in addressing the issue of redundant workers from MGSG. By working closely with the Maanshan city government, and creating a new specialized service Small & Medium Enterprise (SME), redundant employees will be employed by providing catering, security, packaging and janitorial services to the Company.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Lee, Jae-More
President
Xinhua Road, Chihu Town,
Maanshan, Anhui, China 243051
Tel: (86) 555-3503947 ext. 8001