Summary of Proposed Investment
Project Number
7756
Company Name
Asian Electronics Ltd. (AEL)
Date SPI Disclosed
May 8, 1997
Country
India
Industry
Telecommunications and Technology
Status
Completed
Sector
Engineering Services
Department
WBG Digital and AI
Environmental Category
B - Limited
Previous Events
Approved : Jun 30, 1997
Signed : Aug 14, 1997
Invested : Aug 19, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | India-Asia Electronics Limited (AEL) |
| Region | Asia |
| Sector |
Projected Board DateJune 15, 1997
Company NameAsian Electronics Limited
Technical Partner and/or Major Shareholders
Publicly listed company. Major shareholder is Mr. Suresh Shah.
Project Cost Including proposed IFC investment
Total Project Cost is US$86.0 million, IFC A Loan US$16.0 million and equity of US$5.6 million
Location of project and Description of site
Project operations will be headquartered in Thane, Maharastra State, India
Description of Company and Purpose of Project
AEL’s proposed projects are expected to include the installation of modern low tension and high tension capacitors and switched capacitor panels for power factor improvements (70%), distribution transformers (5%), efficient lighting (20%) and electronic energy meters (5%). The clients will be India’s State Electricity Boards and private industry.
IFC will help India realize its first major ESCO with a sound financial base and support a structure that has been proven to work. IFC’s involvement would add credibility to a medium sized company thereby enhancing its reputation and exposure to international investors and markets.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. Based on its review of available information regarding potential environmental impacts and proposed mitigation measures, IFC concludes that the proposed project is being designed to meet Government of India requirements, and World Bank policies, environmental, health and safety guidelines.
The is from the Public Information Center.
| Date SPI sent to PIC | May 8, 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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