Project sponsor and major shareholders of project company
The company is owned through a holding company structure whose shareholders are: - Messrs. Eddy William Katuari and Fifi Sutanto (representing the Wings group) 47.7%; - Mr. Jimmy Masrin and PT Lautan Luas Tbk (representing the Lautan Luas group) 33.3% and - Mr. Robert Budi Hartono (representing the Djarum group) 19%. The main sponsor of the company is the Wings group, which is one of Indonesia’s largest producer and marketer of soaps and detergents. The Wings Group has seven main business activities – - consumer products; - packaging; - chemicals; - building materials; - real estate; - agribusiness and - financial services. Of these, the consumer products business is the largest in annual turnover. IFC has existing relationships with three of the Wings group companies (PT Sayap, PT Wings and PT Gawi). The other two members of the consortium are the Djarum group, one of the largest Indonesian cigarette manufacturers, and the Lautan Luas group which is Indonesia’s leading distributor and manufacturer of basic and specialty chemicals.
Total project cost and proposed IFC investment
The total project cost is estimated to be about $84.0 million. IFC’s investment would consist of an A Loan of up to $30 million.
Location of project and description of site
The new fatty acid plant will be integrated with the company’s fatty alcohol plant at its existing site at Belawan, Medan in Indonesia. Adequate land is available at the plant site and the existing infrastructure can be expanded with marginal incremental investments to support the new project. The site is also located close to a jetty for easy access to movement of material.
Description of company and purpose of project
PT Ecogreen Oleochemicals (Ecogreen, the company), an Indonesia based company, is implementing a $84 million project involving establishing a new 60,000 tonnes per annum (tpa) capacity fatty acid production plant, incremental working capital and debt refinancing. The company is one of the leading global producers of natural fatty alcohols, its core product group, as well as co-products and intermediates such as fatty acids, methyl esters and glycerin. The company produces natural or vegetable oil based fatty alcohol, largely used for the production of detergents, shampoos, conditioners, skin applications and similar consumer products. They are also used as stabilizers in the production of plastics and lubricants. The company has 110,000 tpa natural fatty alcohol production capacity at two production plants located in Belawan, Medan (30,000 tpa) and Batam (80,000 tpa) in Indonesia. Ecogreen’s FY02 turnover was $86 million, of which about 95% was from exports to Asia-Pacific, North and South America and Europe. In addition to its production plants, the company has affiliated marketing and distribution companies which have long term lease finished goods storage facilities in Rotterdam, Germany; Houston,Texas; and Newark, New Jersey. The project is part of the company’s long-term strategy to improve its international competitiveness through better utilization of assets and strategic management of raw material inventory. About half of the new fatty acid capacity will be used to support an 8,000 tpa fatty alcohol capacity increase at Belawan, Medan plant through debottlenecking and to supply to an affiliate soap noodle production company. The surplus will be sold in the merchant market. The working capital and the debt refinancing are aimed at helping the company structure a flexible working capital facility with a core component to fund the permanent working capital and a stand-by facility to finance raw material purchases at low price points.
Environmental and social issues - Category
This is a Category B project according to IFC’s Procedure for Environmental and Social Review of Projects because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The review of this project consisted of appraising technical and environmental/social information submitted by the project sponsor. The following potential environment, health and safety and social impacts were analyzed. Environmental issues include: development of corporate environmental and health and safety management programs; raw material sourcing; air quality impacts (including odor) and abatement; waste water quality, temperature and treatment if necessary; energy efficiency in general; on-site solid waste management procedures; handling and storage of fuel, oils and hazardous materials; and workplace noise. Health and safety issues include: fire safety and emergency response; pressure vessel integrity; safety training, and housekeeping. Social issues in Ecogreen’s plants include community relations and community development activities. Further details are provided in the Environmental Review Summary separately available with this document.
Location of environmental documents in locally affected community
The environmental documentation will be made available at the following locations: PT.Ecogreen Oleochemicals Jalan Raya Pelabuhan IV, Gabion-Bagan Deli, Belawan 20414, Indonesia Phone. (62-61) 6941020, Fax. (62-61) 6941645 PT.Ecogreen Oleochemicals Jalan Pelabuhan Kav. 1, Kabil, Pulau Batam 29435, Indonesia Phone. (62-778) 711002, Fax. (62-778) 711007
To contact the project company, please write to:
Mr. Hardy Johan, Director PT.Ecogreen Oleochemicals Jalan Raya Pelabuhan IV, Gabion-Bagan Deli, Belawan 20414, Indonesia Phone. (62-61) 6941020, Fax. (62-61) 6941645 PT.Ecogreen Oleochemicals Jalan Pelabuhan Kav. 1, Kabil, Pulau Batam 29435, Indonesia Phone. (62-778) 711002, Fax. (62-778) 711007
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