Summary of Proposed Investment
Project Number
7652
Company Name
Plantation Timber Products (Hubei) Limited
Date SPI Disclosed
May 5, 1997
Country
China
Industry
Agribusiness and Forestry
Status
Completed
Sector
Wood Panels and Engineered Wood Products
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Jun 10, 1997
Signed : Aug 3, 1998
Invested : Sep 3, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | CHINA: Plantation Timber Products - Hubei |
| Region | Asia Department, Division 1 |
Sector
Project No007652
Projected Board DateJune 5, 1997
Company NamePlantation Timber Products (Hubei) Limited (“PTP Hubei”).
Technical Partner and/or Major Shareholders
Plantation Timber Products Group (Hubei) Limited, and
Shishou Senxis Forestry Development Company Limited
Project Cost Including proposed IFC investment
US$58 million, of which IFC “A” Loan: approximately US$13.6 million and Participants’ “B” and “C” Loans: US$25 million.
Location of project and Description of site
Shishou Industrial Development Zone, Shishou city, Hubei Province.
Greenfield site of about 10 hectares, zoned for industrial use, about 3 km from the center of Shishou city.
Description of Company and Purpose of Project
Company is a Sino-foreign joint-venture founded to implement a greenfield project which will manufacture and sell 110,000 cubic meters p.a. of Medium Density Fiberboard (MDF), a wood panel. Company will specialize in thin MDF, used primarily in furniture manufacture and interior building constructions. IFC is arranging long-term financing which is harder to obtain for interior projects, including a syndication of participating banks. It is providing technical and marketing feedback.
Environmental Category and Issues
Category B: Key environment issues include wood supply source and management, air emissions from boilers and wood processing operations, process wastewater treatment and discharge to municipal sewage system, management of solid wastes and boiler fuel, storage and handling or urea formaldehyde glue in separate contained areas and other chemical storage and handling, employee health and safety, including emergency response and fire safety and equipment. The sponsor has presented plans to address these issues and to demonstrate that the proposed project will comply with applicable Chinese laws and regulations and World Bank requirements. These include: procurement of commercially grown trees from local, renewable plantations developed under government-run Shishou Forestry Bureau, World Bank, and project-related programs; control of particulates and boiler stack emissions through a combination of flue gas recirculation, dust collectors, etc.; on-site wastewater treatment facilities; storage of UF resin and chemicals in specifically designed containers and locations; and preventative and protective measures to promote workplace air quality, noise reduction, and general worker health and safety.
The is from the Public Information Center.
| Date SPI sent to PIC | May 5, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4384
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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