AEF Global Fabrics Manufacturers Limited

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SUMMARY OF PROJECT INFORMATION (SPI)Project Name NIGERIA: Global Fabrics Manufacturers LimitedRegion Sub-Saharan AfricaSector ManufacturingProject No 009202ProjectedBoard Date February 7, 1999Company Name Global Fabrics Manufacturers LimitedTechnical Partner and/or Major ShareholdersThere is no technical partner. The project is sponsored by Messrs. M.C. Nwoba, F. Amobi and M.A. Afunugo. Mr. M.C. Nwoba is the Chairman of the Company. Equity is held equally (33.33% each) among the three Directors. Global is affiliated to MAFFACO Group (West Africa) Limited. The Group comprises six companies involved in engineering and agro-business including production and export of rubber.Project Cost including Proposed IFC Investment Project cost including proposed IFC investment: US$1,083,000 equivalent of which IFC has been requested to provide a loan of US$320,000.Location of Project and Description of SiteThe factory is presently located at No. 1 Uba Street, Nkpor, Idemili North L.G.A of Anambra State. The project is to relocate the existing factory to a new, previously undeveloped, 3-hectare site in the industrial estate of Azu Village, Ogbunike Industrial layout along Enugu/Onitsha expressway. The new buildings will comprise the administrative block and staff quarters.Description of Company and Purpose of ProjectThe Company will acquire additional machines and equipment from Taiwan in order to expand its production of narrow fabrics and wicks. The narrow fabrics are used for making mattress tapes, ribbon tapes, waist bands, elastic tapes, bag tapes and winding tapes. Upon project completion, the Company will be one of the largest domestic manufacturers of these products in Nigeria.The Company employs 30 regular workers of and some temporary workers. The project will employ an additional 53 regular workers. This import substitution project will help in the industrialization of the area.IFC will provide a loan a long-term loan, which is currently unavailable in Nigeria. It will also help three dynamic entrepreneurs to further develop their business activities.Environmental Category and IssuesThis is a category B project according to IFC’s environmental and social review procedure. The key environmental and health and safety issues include: sewage and solid waste management; fire prevention and emergency response; and employee health and safety, including training. Employee sanitary sewage will be separately discharged to the local sewerage network. Solid waste will be collected periodically by the municipality and disposed of in the local dump. Adequate fire prevention systems have been incorporated into building design and operation. All employees will be trained in fire prevention and response. The facility is appropriately registered with the local fire department for provision of emergency services in case of a fire. Global will address all aspects of employee health and safety including workplace noise, and general health and safety and training.IFC will monitor the sponsor’s ongoing compliance with World Bank policies, and environmental, health and safety guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC.The Environmental Review Summary is available from the Public Information Center.Host country location of Federal Environmental Protection Agency Environmental documents (FEPA)Date SPI sent to InfoShop January 8, 1999“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose to enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board consideration.”For Additional Information contact: Corporate Relations UnitTelephone: (202) 473-7711Facsimile: (202) 971-4384\\StreetTalk\Shared Data@CAFNET@IFC\CAF\AEF\NIR\Globalspi.docDecember 17, 1998 5:05 PMEnvironmental 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).