AEF-Stone Holdings Limitted, Zimbabwe

completed

SUMMARY OF PROJECT INFORMATIONProject Name Zimbabwe-Itachi Plastics (Pvt) Ltd.Region Sub-Saharan AfricaSector PlasticsProject No 004999Company Name Itachi Plastics (Pvt) Ltd.Location or Project and  Description of Site Harare, ZimbabweProjected Board Date June 15, 1995Description of Company and Purpose of Project: The project entails the purchase of equipment for use in the manufacture of plastic bottles and other packaging material for beauty, health care and processed food products.  Itachi Plastics is being set up to produce for the small bottle segment of the market (400ml and below).  Itachi intends to use the injection blow manufacturing technique instead of the more commonly used extrusion blow moulding.  The latter is suitable only for open ended containers, not bottles.  The selected process will reduce the production costs which have tended to dissuade manufacturers from small bottle containers. The equipment will be imported from Dick Lyons Company Ltd of Taiwan(DLCL) which will provide initial training, spares and back up maintenance through its  South African subsidiary.  Some complementary equipment will be sourced locally. Raw materials for the production of plastic are all imported with very little (5%) available locally.  Most of the raw material is from South Africa (SASOL) although some is from as far as Europe and USA.Technical Partner and/or Major Shareholders:  Mr. Godfrey Kaitano one of the two sponsors will be the managing director.  Mr Kaitano has over 10 years experience in plastic packaging manufacturing.  The other sponsor is Dr Obert Mhere, a Harare based medical practitioner.  He will not be involved in the running of the Company.DLCL will have a small shareholding (8%) in the company.  They intend to sell this shareholding to the two sponsors once the company is fully operational.Environmental Category and Issues: This is an environmental review category ''B'' project.  Environmental and occupational health and safety issues include air emissions, solid and liquid waste management scrap recycling, welding fume control, employee safety and fire protection.  The sponsors have committed to complying with all applicable World Bank and Government of Zimbabwe requirements, to submit to IFC an environmental management plan addressing the issues listed above.  They are currently preparing a plan for dealing with environmental matters and this will be submitted for clearance by IFC before approval of the proposed IFC investment is granted.Date SPI sent to PIC 6/13/95For additional Information contact: Corporate Relations UnitTelephone: (202) 473-7711Facsimile: (202) 676-0365Environmental 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).