Summary of Proposed Investment
Project Number
8153
Company Name
Plantation Timber Products Holdings Limited
Date SPI Disclosed
May 5, 1997
Country
China
Industry
Agribusiness and Forestry
Status
Completed
Sector
Wood Panels and Engineered Wood Products
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Jun 10, 1997
Signed : Jun 15, 2000
Invested : Jun 15, 2000
Project Description
Summary Of Project Information (SPI)
| Project Name | BRITISH VIRGIN ISLANDS: Plantation Timber Products Holdings Limited |
| Region | Asia Department, Division 1 |
| Sector |
Projected Board DateJune 5, 1997
Company NamePlantation Timber Products Holdings Limited (“PTP Holdings”)
Technical Partner and/or Major Shareholders
Miklar Investment Limited, Mr. Daniel Spitzer, Chemical Asian Equity Associates, L.P., Wadsley Holdings Limited
Project Cost Including proposed IFC investment
US$29 million, of which IFC’s investment, consisting of equity, would be approximately US$1.4 million.
Location of project and Description of site
PTP Holdings invests in timber related projects. The projects are located in Leshan, Sichuan province (PTP Leshan-Existing); Shishou, Hubei province (PTP Hubei-New); and ChongQing, Sichuan province (PTP ChongQing-New). PTP Holdings is registered in the British Virgin Islands.
Description of Company and Purpose of Project
PTP Holdings is a special purpose holding company created to serve as an investment vehicle for Sino-Foreign joint-venture investments in China. It invests along side its local Chinese investors. The proposed IFC investment would consist of an approximately 6% shareholding in the Company.
Environmental Category and Issues
This corporate investment is designated a Category B project in order to ensure that environmental and occupational health and safety issues are addressed at the corporate level and are integrated into the Company’s general business functions. While each of PTP Holdings’ subsidiaries is responsible for its own environment, and health and safety performance, PTP Holdings has developed a corporate environmental mission statement, which includes a commitment to environmental improvement and the goal of sustainable development, as well as operating in an environmentally “friendly” way and minimizing waste. IFC’s Technical and Environmental Department will provide advice on further development of an environmental management system at the corporate level and will monitor progress by evaluating reports submitted periodically to it by the Company.
The is from the Public Information Center.
| Date SPI sent to PIC | May 5, 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
Related ESRS/ERS
