Summary of Proposed Investment
Project Number
7358
Company Name
MID EAST NIGERIA LIMITED
Date SPI Disclosed
Feb 22, 1996
Country
Nigeria
Industry
Manufacturing
Status
Active
Sector
Other (Including Gypsum Tiles)
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : Apr 10, 1996
Signed : Jun 29, 1996
Invested : Jan 29, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Nigeria-Mid-East (Nigeria) Ltd. |
| Region | Sub-Saharan Africa |
| Sector |
Projected Board DateMarch 29, 1996
Company NameMid-East (Nigeria) Ltd.
Technical Partner and/or Major Shareholders
Mr. E.O. Chiemeka and family, all Nigerian nationals.
Project Cost Including proposed IFC investment
Project cost estimated at N28.3 million (US$332,706 equivalent). Equipment will be purchased from Gordon Simmonds Partnership, U.K. who will also provide Mid-East with technical support. IFC has been asked to provide a loan of US$184,000.00 equivalent.
Location of project and Description of site
The expansion will be at the Company’s current factory site at MCC Uratta Road, Owerri, Imo State, Nigeria.
Description of Company and Purpose of Project
A family owned company which manufactures and installs Plaster of Paris (POP)(derived from gypsum) ceiling tiles. The project will expand production capacity from the current annual installed capacity of 40,000 square meters to 103,000 square meters. POP, the principal raw material, is available in Nigeria. IFC will provide a medium-term foreign currency loan to: (i) import equipment; (ii) increase use of local raw materials; (iii) help further develop an indigenous entrepreneur who has shown substantial initiative in moving away from trading.
Environmental Category and Issues
This is an environmental category B project. The environmental, occupational health and safety issues to be resolved on this project include liquid and solid waste disposal and recycling, worker exposure to dust and noise, fire protection and general plant safety. Liquid and solid waste disposal involve mainly semi-solid or solid gypsum. Gypsum will be deposited in a designated area and subsequently transported to the gypsum manufacturer for recycling. Worker exposure to dust will be accommodated by use of filter masks, appropriate clothing and footwear, ceiling fans, wash down showers and periodic health examinations. Noise is not an issue. All raw materials are incombustible. Fire protection and general plant safety will be met through fire extinguishers and measures noted above. IFC’s Technical & Environmental Department concludes that the project is being designed to meet the Government of Nigeria’s requirements and World Bank policies and environmental, health and safety guidelines.
The is Information Center.
| Date SPI sent to PIC | February 22, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
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
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