Samson Maritime Limited was formed by the merger of three group companies in 1994.The shareholding of Samson Maritime Limited (SML), the flagship (investee) company is entirely held by Mr S A Samant & family and Mr M B Samant & family.

IFC’s proposed investment entails an equity financing and an “A” Loan to help the company meet its capital expenditure plan of approximately $85 million in the medium term.

30.23 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	24.0
Equity	6.23

* These investment figures are indicative

The project essentially consists of purchase of offshore supply vessels which will be used for transporting men and materials to off-shore oil and gas platforms.

The project is expected to have the significant development impact by:

- supporting India’s efforts to effectively exploit natural resources important for energy security and economic growth;
- supporting Government’s efforts through the provision of private infrastructure services in a critical sector;
- creating employment for Indian seamen and on-shore administrative staff;
- supporting the development of environmentally sound transportation of offshore supplies by providing modern vessels to the Indian offshore market replacing older and less environmentally friendly vessels; and
- supporting the development of natural gas exploration which when developed will be a clean and affordable source of energy to India.

IFC’s expected development contributions are as follows:

- IFC will assist the company to transition from a closely held family business to a professionally and well-governed company in an industry which provides key support sector for the indigenous E&P (Exploration & Production) program which aims to increase India’s self reliance in primary energy sources.
- IFC will provide the first round of private capital to one of the smaller but well managed companies in a fast growing sector and assist in improving corporate governance practices and increasing quality of reporting to prepare the company for an eventual listing on the stock markets.
- IFC will provide long term financing to the company essential to implement its business strategy- IFC will provide advice on an ongoing basis to help the company make improvements on its environmental, health and safety standards.

This is a category B project according to IFC’s environmental and social review procedure because a limited number of specific social and environmental impacts may result, which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The following potential environment, health and safety and social aspects of the project were analyzed: environment and social assessment, and management systems; labor and working conditions including management of employee occupational health, safety particularly adherence to standards/norms stipulated under SOLAS, ISM Code and other IMO standards; pollution prevention and abatement including adherence to MARPOL and other IMO standards on management of emissions and discharges, water and wastewater, solid and other wastes, hazardous materials and wastes, and spill prevention and cleanup).

A summary discussion on the social and environmental aspects of relevance to the project including the company’s plans to address these impacts has been provided in the Environmental and Social Review Summary (ESRS) prepared by IFC and publicly disclosed at IFC’s website.