<article><a style="color: #000080;" href="http://www.ifc.org">International Finance Corporation</a>, the private lending arm of <a style="color: #000080;" href="http://www.worldbank.org/">World Bank</a>, will extend a financing of up to $40 million to <a style="color: #000080;" href="http://www.srf.com/">SRF Ltd</a>  for its proposed greenfield facility for the production of BOPET film in India.</article>

<a style="color: #000080;" href="http://www.ifc.org">International Finance Corporation</a>, the private lending arm of <a style="color: #000080;" href="http://www.worldbank.org/">World Bank</a>, will extend a financing of up to $40 million to <a style="color: #000080;" href="http://www.srf.com/">SRF Ltd</a>  for its proposed greenfield facility for the production of BOPET film in India.
While the total cost of the project is estimated at around $58 million, IFC is considering financing up to $40 million and the balance will be generated by SRF.
In 2012, IFC had financed SRF&#8217;s greenfield projects in Thailand and South Africa marking its foray in those areas. “The current proposed investment, which complements these earlier investments, will further strengthen the relationship as IFC and SRF continue to engage on new opportunities both within and outside India,” IFC said in the disclosure
According to the project disclosure, the planned facility, at Indore in the state of Madhya Pradesh, will have a capacity of 30,000 TPA and metallization capacity of 8,000 TPA. Over 60 per cent of the project&#8217;s output of flexible packaging will be used in the food packaging and beverages industries, it said.
Citing the reasons for supporting SRF’s project, IFC said, the project will lead to creation of around 200 direct jobs and indirect jobs. Also, there will be more than 400 temporary jobs created during the construction phase. “The Project will also benefit the local supply chain on account of increased demand for goods and services,” it said.
SRF, which was founded in 1970, manufactures intermediates with its portfolio covering technical textiles, fluorochemicals, specialty chemicals, packaging films and engineering plastics.
In India, SRF has existing operations in Madhya Pradesh, Rajasthan, Uttarakhand, Tamil Nadu and Gujarat.
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International Finance Corporation, the lending arm of World Bank, will lend up to $40 million to India’s SRF Ltd  for its planned greenfield unit in India.

IFC to extend $40m debt for SRF's greenfield facility in India

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IFC to extend $40m debt for SRF's greenfield facility in India

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