Summary of Proposed Investment
Project Number
7709
Company Name
WILKINS SPENCE PACKAGING LANKA (PRIVATE) LIMITED
Date SPI Disclosed
Nov 26, 1996
Country
Sri Lanka
Industry
Agribusiness and Forestry
Status
Completed
Sector
Paper Packaging Products (Including Boxes, Cartons, etc.)
Department
Regional Industry - MAS Asia & Pac
Environmental Category
B - Limited
Previous Events
Approved : Feb 10, 1997
Signed : Mar 4, 1997
Invested : Jul 9, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Sri Lanka: Packages Lanka (Private) Limited |
| Region | Asia |
Sector
Project No007709
Projected Board DateDecember 26, 1996
Company NamePackages Lanka (Private) Limited
Technical Partner and/or Major Shareholders
The project is a joint venture between Packages Ltd., Pakistan, and Printcare (Ceylon) Limited, which is a part of the MJF Group in Sri Lanka. Packages Ltd., an existing IFC client, is a leading producer of paper, paperboard and packaging material in Pakistan. Printcare (Ceylon) Limited is an established local player in the light cartons, labels and the tea-bags range. The plant will be designed, implemented and operated by Packages Ltd. with local support from Printcare (Ceylon) Limited.
Project Cost Including proposed IFC investment
US$10 million(under review). IFC is considering an equity investment of up to US$1.4 million in the project for a 25% shareholding in the Company.
Location of project and Description of site
At Ja-Ela near Colombo. The project site is a seven-acre plot in an industrial area, about 20 kilometers from Colombo’s municipal limits.
Description of Company and Purpose of Project
The project will mainly address domestic demand for high-quality flexible packaging material. In the absence of adequate local capacity, almost 50% of domestic requirements are currently met from imports. The project will substitute imports and strengthen the packaging industry. Considering that packaging plays a vital role in product promotion, the project will add to the competitiveness of local and export products.
Environmental Category and Issues
This is a Category B project according to IFC’s environmental review procedure. The plant site is located in an industrial area and no resettlement is involved. The Sponsor has undertaken a soil and ground water sampling program to check on current environmental quality. Solid wastes will include unprinted side-trims and printed waste. The unprinted waste will be recycled in-house. The printed waste will be sold to outside recyclers who re-melt the plastic for reuse or shred it for use as packing/stuffing material. Solvent-based inks will be used for plastic printing and will generate very limited amounts of solvent vapours which will be vented to the atmosphere through exhausts. All liquid and gaseous emissions from the plant including diesel generator emissions, will be within applicable World Bank guidelines. Significant adverse impacts on the environment and worker health and safety are not expected from this project.
The ERS is available from the Public Information Center.
| Host country location of environmental documents | Public Information Center, IFC South Asia Regional Mission, No. 1, Panchsheel Marg, Chanakyapuri, New Delhi - 110 021 (Tel.:91-11-301-1306, Fax:91-11-301-1278/1281. Packages Lanka (Private) Limited, 77 Nungamugoda Road Kelaniya, Colombo, Sri Lanka |
Date SPI sent to PIC November 26, 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
Related ESRS/ERS
