Summary of Proposed Investment
Project Number
7940
Company Name
G&M Industrial Co. Ltd.
Date SPI Disclosed
Dec 12, 1996
Country
Mongolia
Industry
Manufacturing
Status
Completed
Sector
Garment and Apparel (Without Fabric , Excluding Footwear)
Department
Regional Industry - MAS Asia & Pac
Environmental Category
B - Limited
Previous Events
Approved : Jan 22, 1997
Signed : Mar 13, 1997
Invested : May 14, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Mongolia-G & M Leather Garments |
| Region | Asia |
| Sector |
Projected Board DateJanuary 14, 1997
Company NameG & M Industrial Co. Ltd.
Technical Partner and/or Major Shareholders
Enkhjin Co. Ltd. (Mongolia)
Testorf Trading Company (Germany)
Project Cost Including proposed IFC investment
Proposed project cost is US$3.5 million. IFC proposed investment is US$1.75 million, consisting of US$1.45 million long-term loan and US$0.3 million of equity.
Location of project and Description of site
The Company and the proposed project are located in Bayangol industrial district of Ulaanbaatar. The site occupies 1.7 hectares of land and is connected to the city’s electricity and utility grids.
Description of Company and Purpose of Project
The project will diversify the Company’s existing tanning activity to include leather garmenting. The leather garments will be upper market and higher margined products, sold initially to the local and regional market and, subsequently, to European markets. IFC and its technical consultants have advised the Company on redesigning the project into a two phased approach more in line with conservative financial and marketing parameters. IFC has also introduced the Company to European specialists who can provide technical, training, and marketing assistance. The project would be the first large private leather garmenting operation in Mongolia and an example for future companies to follow, thereby adding value to the country’s important livestock industry.
Environmental Category and Issues
This is a Category B project. Environmental, health, and safety issues associated with this project include proper treatment and disposal of liquid and solid wastes and gaseous emissions, general worker health and safety, and fire protection.
The is from the Public Information Center.
| Date SPI sent to PIC | December 12, 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
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