Summary of Proposed Investment
Project Number
7688
Company Name
Lowveld Leather (PVT) Limited
Date SPI Disclosed
Aug 9, 1996
Country
Zimbabwe
Industry
Manufacturing
Status
Completed
Sector
Shoes and Leather Products
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : Oct 25, 1996
Signed : Mar 10, 1997
Invested : Jul 10, 1997
Project Description
SUMMARY OF PROJECT INFORMATION
Project Name Zimbabwe-Lowveld Leather Products (Pvt.)Ltd.
Region Sub-Saharan Africa
Sector Manufacturing
Project No. 007688
Projected Approval Date September 27, 1996
Company Name Lowveld Leather Products (Pvt.)Ltd. (LLP)
Technical Partner and/or Major Shareholders: The sponsors of the project are Messrs. Morgan Ndisengei (4.5%) and Godfrey Gonese (4.5%). Mr. Gonese has more than 15 years of experience in industrial management and public administration. Mr. Ndisengei’s work experience includes fifteen years of tannery management at Bata Zimbabwe, the country’s largest shoe manufacturer. He will be the project’s tannery manager.
Project Cost including proposed IFC investment
Project Cost: US$1.27 million equivalent
IFC Investment: US$0.50 million (US$0.30 million loan and US$0.20 million equity)
Location of Project and Description of Site: The project will be located in Marondera, 60 km southeast of Harare.
Description of Company and Purpose of Project: The project entails the acquisition and modernization of an existing tannery which is being sold by Belmont Leather (Pvt.) Ltd. The project will process hides into wet blue and finished leather for export to Southern Africa.
Processing hides into wet blue and finished leather would add value to locally available hides. The project is also expected to provide employment for 100 people.
Environmental Category and Issues: This is an environmental review category B project. Environmental and occupational health and safety issues include liquid and solid waste disposal; air emissions; site contamination from present or past activities; employee training and provision of personal protective equipment; and general housekeeping. A general environmental management plan is currently under review. Waste disposal methods include a series of lagoons and settling tanks. Effluent sampling will form an integral part of project monitoring. An ERS is expected to be available on August 19, 1996.
Date SPI sent to PIC: August 9, 1996
For additional information contact: Corporate Relations Unit - telephone: (202) 473-7711 - facsimile: (202) 676-0365.
L:\zimbabwe\lowveld\pic (August 8, 1996 3:05PM)
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).
Project Name Zimbabwe-Lowveld Leather Products (Pvt.)Ltd.
Region Sub-Saharan Africa
Sector Manufacturing
Project No. 007688
Projected Approval Date September 27, 1996
Company Name Lowveld Leather Products (Pvt.)Ltd. (LLP)
Technical Partner and/or Major Shareholders: The sponsors of the project are Messrs. Morgan Ndisengei (4.5%) and Godfrey Gonese (4.5%). Mr. Gonese has more than 15 years of experience in industrial management and public administration. Mr. Ndisengei’s work experience includes fifteen years of tannery management at Bata Zimbabwe, the country’s largest shoe manufacturer. He will be the project’s tannery manager.
Project Cost including proposed IFC investment
Project Cost: US$1.27 million equivalent
IFC Investment: US$0.50 million (US$0.30 million loan and US$0.20 million equity)
Location of Project and Description of Site: The project will be located in Marondera, 60 km southeast of Harare.
Description of Company and Purpose of Project: The project entails the acquisition and modernization of an existing tannery which is being sold by Belmont Leather (Pvt.) Ltd. The project will process hides into wet blue and finished leather for export to Southern Africa.
Processing hides into wet blue and finished leather would add value to locally available hides. The project is also expected to provide employment for 100 people.
Environmental Category and Issues: This is an environmental review category B project. Environmental and occupational health and safety issues include liquid and solid waste disposal; air emissions; site contamination from present or past activities; employee training and provision of personal protective equipment; and general housekeeping. A general environmental management plan is currently under review. Waste disposal methods include a series of lagoons and settling tanks. Effluent sampling will form an integral part of project monitoring. An ERS is expected to be available on August 19, 1996.
Date SPI sent to PIC: August 9, 1996
For additional information contact: Corporate Relations Unit - telephone: (202) 473-7711 - facsimile: (202) 676-0365.
L:\zimbabwe\lowveld\pic (August 8, 1996 3:05PM)
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
