Summary of Proposed Investment
Project Number
7206
Company Name
Panafrican Airways Limited
Date SPI Disclosed
Dec 15, 1995
Country
Kenya
Industry
Agribusiness and Forestry
Status
Completed
Sector
Paper for Printing and Writing
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Mar 13, 1996
Signed : Mar 27, 1996
Invested : Apr 7, 1997
Project Description
SUMMARY OF PROJECT INFORMATION (SPI)
Country/Project Name Kenya-Panafrican Paper Mills (EA) Limited.
Region Sub-Saharan Africa
Sector Pulp and Paper
Project No 007206
Projected Approval Date: January 15, 1996
Company Name: Panafrican Paper Mills (EA) Limited
Technical Partner and/or Major Shareholders: Orient Paper and Industries Ltd, India (a member of the Birla Group) is the technical partner and has a 29.4% shareholding; Government of Kenya (33.9%) and IFC (24.9%) are other principal shareholders.
Project Cost including proposed IFC investment:
Project Cost: US$ 36 million
IFC Investment (Loan): US$ 15 million
Location of project and Description of site: Modernization of existing Pulp and Paper mill located on the Bank of the Nzoia River at Webuye, in Western Province of Kenya.
Description of Company and Purpose of Project: PPM commenced operations in 1974, and is the only integrated pulp and paper mill in Kenya, supplying 80% of the domestic paper consumption. This project is the first phase of a rehabilitation and modernization program to achieve regional competitiveness. It includes the replacement of the bleach plant with a more environmentally friendly unit; debottlenecking the plant and reducing chemical and power costs.
Environmental Categories and Issues: This is a category B project according to IFC’s environmental review procedure. The sponsor has made commitment to fully comply with World Bank policies and guidelines, and governmental requirements and have submitted and environmental plan addressing the issues such as: Liquid effluents, air emissions, wood supply, and handling of hazardous and toxic chemicals.
The ERS will be sent to the PIC on January 2, 1995.
Date SPI sent to PIC: December 7, 1995
For additional Information contact: Corporate Relations Unit - telephone (202) 473-7711 - facsimile: (202) 676-0365.
L:\CAFD1\PPM\PPMSPI.DOC
December 7, 1995 5:30 PM
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
Related ESRS/ERS
