24904 - PT Karunia Alam Segar

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Summary of Proposed Investment

Project Number

24904

Company Name

KARUNIA ALAM SEGAR, PT

Date SPI Disclosed

May 2, 2006

Country

Indonesia

Industry

Agribusiness and Forestry

Projected Board Date

Jun 5, 2006

Status

Completed

Sector

Other Food

Department

Gbl Ind, Manufact, Agribus & Services

Environmental Category

B - Limited

Previous Events

Approved : Jun 8, 2006
Signed : Jun 22, 2006
Invested : Aug 14, 2006

Project Description

PT Karunia Alam Segar (PT KAS) is one of the operating companies in the Wings Group. The company is an existing IFC client. PT KAS produces instant noodles in Surabaya and seeks follow-on capital to expand its instant noodle lines. The project will set up 9 instant noodle lines in PT KAS.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	20.0
Equity

Development Impact

The project will support the continued growth of a leading Indonesian food group to seize opportunities offered by a rapidly growing demand for processed foods. Secondary benefits from the project will likely include:

- employment generation; and
- increase in domestic competition.

The Indonesian economy will also benefit from the project through incremental taxes (income tax, import duties on equipment, import duties on imported raw materials).

IFC has been active in Indonesia assisting reputable clients in key sectors such as agribusiness, extractive industries, infrastructure and financial sector. IFC will play a vital role in supporting an existing client for a Project that caters to the lower segments of the population. Long-term funds are still not easily available in Indonesia and given the nature of the project and the long lead times to profitability, IFC would play a key role in fulfilling this need. IFC has assisted this family owned concern in the environmental and social issues and IFC will continue to add value in this area.

This is a category B project according to IFC''s Procedure for Environmental and Social Review of Projects because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The review of this project consisted of appraising both plants and reviewing technical and environmental/social information submitted by the project sponsor. The following potential environment, health and safety and social impacts of the projects were analyzed: existing and planned management systems for quality, environment and health and safety; occupational health and safety; food safety; air emissions from steam and heat generation; sustainability and quality of potable water supply used in food manufacturing; liquid waste management; biological control of pest species; and solid waste management.

Contacts

For Inquiries About the Project, Contact

Hanny Sutanto, Director
Graha Ekonomi
Jl. Setia Budi Selatan Kav. 10
Jakarta 12920

Environmental documents will be made available at the local public post office

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This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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