Cosmo is India’s second largest manufacturer and exporter of BOPP films with its facilities in Aurangabad, Maharashtra and Vadodara, Gujarat. Incorporated in 1976, Cosmo is listed on both, the Bombay and the National Stock Exchanges, and has a market capitalization of roughly $14 million.

The total project cost is estimated to be about $43 million. The proposed IFC investment is a $10 million A loan for IFC’s own account. The balance will be funded through other loans and internal accruals.

20.0 million (USD)

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

* These investment figures are indicative

The expansion of the Indian operations will be located within Shendra Special Economic Zone in Aurangabad, Maharastra, India.

Employment opportunities - The Project is expected to create up to 300 new employment opportunities.
Efficient technology usage – The Project will employ technology that improves the conversion ratio (input raw material to film output) thereby reducing wastage in the environment and contributing to a cleaner environment.

Support to an existing client - IFC''s participation will support an existing client as it implements an expansion plan necessary to maintain its leadership position in the domestic market. Further, given the scarcity of capital in the current economic environment, IFC will be providing the client valuable resources to complete the Project.

Association with IFC - The Company strongly values the IFC''s affiliation and believes that having IFC as an investor will provide it with additional credibility as it expands its global footprint.

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 that can be avoided or mitigated by adhering to generally recognized performance standards and guidelines.



Environmental and social issues associated with this Project include: adequate social and environmental assessment of the impacts of the Project; the Company’s capacity to manage its social, environmental, health and safety performance, and engage with local communities in accordance with local requirements, IFC Performance Standards and the World Bank Group (WBG) Environmental, Health and Safety (EHS) Guidelines; assurance of fair, safe and healthy working conditions during construction and operations; utilization of equipment and operational practices that maximizes conservation of energy, water and process materials including recycling and reuse initiatives; management of air emissions, wastewater treatment and discharge, and solid and other waste disposal; handling and management of hazardous materials and hazardous wastes; impacts of operations on the local ambient environment; and impacts on transport infrastructure during construction and operations.



Further details on the potential environmental and social impacts of the project, corresponding mitigation measures and guidance on how and where information about the project are provided in the IFC Environmental & Social Review Summary and Environmental & Social Action Plan.