Summary of Proposed Investment
Project Number
7708
Company Name
Aquva Ginners Tanzania Ltd
Date SPI Disclosed
Sep 5, 1996
Country
Tanzania
Industry
Agribusiness and Forestry
Status
Completed
Sector
Natural Fibers (Cotton, Sisal, Jute, etc.)
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : Dec 11, 1996
Signed : Feb 4, 1997
Invested : Jun 18, 1997
Project Description
SUMMARY OF PROJECT INFORMATION
Country/Project Name Tanzania-Aquva Ginners Tanzania Limited
Region Sub-Saharan Africa
Sector Agriculture
Project No. 007708
Projected Approval Date October 30, 1996
Company Name Aquva Ginners Tanzania Limited
Technical Partner and/or Major Shareholders: The project sponsors are Aquva Agencies (75%) and Messrs. G.S. Patel and K.S. Patel (25%). Aquva Agencies is owned by a successful Patel family comprising of four cousins: R.B. Patel, K.R. Patel, J.J. Patel, and P.R. Patel. The Aquva group have diversified business interests in the manufacture and trading of industrial machinery parts and hotels.
Project Cost including proposed IFC investment
Project Cost: US$ 5.0 million equivalent
IFC Investment: US$ 1.5 million (loan)
Location of Project and Description of Site: The project’s facilities are located in Ramodi in the Mwanza region of Tanzania, a major cotton growing area.
Description of Company and Purpose of Project: Aquva Ginners Ltd. is a new company that will establish a cotton ginnery that will process seed cotton into lint cotton for sale to the international market. The project will take advantage of the limited ginning capacity in the area.
Apart from providing employment and earning valuable foreign exchange, the project will assist in the cotton sector’s revival, being one of the first new gins since the sector’s liberalization. The project will also provide farmers with an alternative selling channel to the parastatal gins.
Environmental Category and Issues: This is a Category B project according to AEF’s environmental review procedure. Environmental, health, and safety issues associated with this project include ambient dust emissions, power supply, employee exposure to dust, heat and noise, waste disposal, provision of personal protective equipment and training, and fire protection. The sponsor is currently preparing an environmental and safety management plan. An ERS is expected to be available on September 30, 1996.
Date SPI sent to PIC: September 5, 1996
For additional Information contact: Corporate Relations Unit - telephone (202) 473-7711 - facsmile: (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
Related ESRS/ERS
