Summary of Proposed Investment
Project Number
7907
Company Name
JY Estates Limited
Date SPI Disclosed
Feb 18, 1997
Country
Zambia
Industry
Agribusiness and Forestry
Status
Completed
Sector
Horticultural Products (Flowers)
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : Mar 24, 1997
Signed : Aug 15, 1997
Invested : Dec 2, 1997
Project Description
SUMMARY OF PROJECT INFORMATION
Project Name Zambia-JY Estates Limited
Region Sub-Saharan Africa
Sector Floriculture
Project No 007907
Projected Board Date March 31, 1997
Company Name JY Estates Limited
Technical Partner and/or Major Shareholders
The project is jointly (50/50) owned by Michael Jones and Sharon Jones, a husband and wife team. Mr Jones is a South African citizen who was born and grew up in Zambia. He holds a Diploma in Agriculture. Mrs Jones is a Zimbabwean citizen with a degree in Education.
Project Cost Including Proposed IFC Investment
The project is estimated to cost US$2.2 million and IFC has been requested to provide a loan of US$890,000.
Location of Project and Description of Site
The project will be located on a 206 hectare farm in Chisamba, 60km north of Lusaka, Zambia.
Description of Company and Purpose of Project
JY Estates Limited is a Zambian registered company which intends to establish a 5 hectare rose project at Kamwaysunka Farm in Chisamba. JY has been successfully running a 3 hectare export rose project on the outskirts of Lusaka, Zambia for the last three years
Expected Developmental Impact
IFC''s investment will contribute to the creation of 230 jobs comprising of 200 labourers and 30 administrative and management staff. This will improve the quality of life of over 2,000 people in the surrounding areas. The project will generate substantial foreign currency earnings for Zambia. The project’s earnings will all be in foreign currency.
Environmental Category and Issues
This is an environmental review category B project. Environmental, occupational, health and safety issues include pesticides handling and application, integrated pest management, water supply, liquid and solid waste disposal, CFCs, disposal/destruction of pesticides and provision of personal protective equipment and framing. The sponsors have agreed to comply with applicable World Bank and Government of Zambia environmental requirements. The environmenal Review Summary is available from the Public Information Center.
Date SPI sent to PIC February 18, 1997
For additional information contact: Corporate Relations Unit - telephone: (202) 473-7711 - facsimile: (202) 676-0365.
L:\CAF\AEF\ZAM\JYESTSPI.DOC
February 13, 1997 3:11 PM
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 Zambia-JY Estates Limited
Region Sub-Saharan Africa
Sector Floriculture
Project No 007907
Projected Board Date March 31, 1997
Company Name JY Estates Limited
Technical Partner and/or Major Shareholders
The project is jointly (50/50) owned by Michael Jones and Sharon Jones, a husband and wife team. Mr Jones is a South African citizen who was born and grew up in Zambia. He holds a Diploma in Agriculture. Mrs Jones is a Zimbabwean citizen with a degree in Education.
Project Cost Including Proposed IFC Investment
The project is estimated to cost US$2.2 million and IFC has been requested to provide a loan of US$890,000.
Location of Project and Description of Site
The project will be located on a 206 hectare farm in Chisamba, 60km north of Lusaka, Zambia.
Description of Company and Purpose of Project
JY Estates Limited is a Zambian registered company which intends to establish a 5 hectare rose project at Kamwaysunka Farm in Chisamba. JY has been successfully running a 3 hectare export rose project on the outskirts of Lusaka, Zambia for the last three years
Expected Developmental Impact
IFC''s investment will contribute to the creation of 230 jobs comprising of 200 labourers and 30 administrative and management staff. This will improve the quality of life of over 2,000 people in the surrounding areas. The project will generate substantial foreign currency earnings for Zambia. The project’s earnings will all be in foreign currency.
Environmental Category and Issues
This is an environmental review category B project. Environmental, occupational, health and safety issues include pesticides handling and application, integrated pest management, water supply, liquid and solid waste disposal, CFCs, disposal/destruction of pesticides and provision of personal protective equipment and framing. The sponsors have agreed to comply with applicable World Bank and Government of Zambia environmental requirements. The environmenal Review Summary is available from the Public Information Center.
Date SPI sent to PIC February 18, 1997
For additional information contact: Corporate Relations Unit - telephone: (202) 473-7711 - facsimile: (202) 676-0365.
L:\CAF\AEF\ZAM\JYESTSPI.DOC
February 13, 1997 3:11 PM
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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