Summary of Proposed Investment
Project Number
8077
Company Name
Fayz Holding Joint Stock Company of the Open Type
Date SPI Disclosed
Mar 13, 1997
Country
Uzbekistan
Industry
Agribusiness and Forestry
Status
Completed
Sector
Furniture and Related Products
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Apr 18, 1997
Signed : Apr 15, 1998
Invested : Feb 24, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | Uzbekistan-Furniture Production Association Fayz |
| Region | Central Asia, Middle East and North Africa |
| Sector |
Projected Board DateApril 13, 1997
Company NameJoint Stock Furniture Production Company Fayz
Technical Partner and/or Major Shareholders
Fayz was privatized in the beginning of 1995, and at present is owned 70% by management and workers, 15% by outside shareholders and 15% by the Government of Uzbekistan.
Project Cost Including proposed IFC investment
The total project cost is US$4.8 million. IFC’s investment is expected to be up to US$2.4 million, with amounts of loan and equity still to be finalized.
Location of project and Description of site
The project is located in Tashkent, the capital city of Uzbekistan. The project would be located in the existing site of Fayz, located in the industrial district of Tashkent.
Description of Company and Purpose of Project
Furniture Production Association Fayz, established in 1978, is one of the largest furniture factories in Uzbekistan and the only manufacturer of kitchen cabinets in Central Asia. The project is for upgrading and modernization of an existing furniture manufacturing factory.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure. Environmental and occupational health and safety issues include limited liquid effluent and solid waste disposal, source of raw materials, stack emissions, fire protection, and employee exposure to noise and dust and finishing and/or solvent vapors.
The is available from the Public Information Center.
| Date SPI sent to PIC | March 13, 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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