CBL Investment

active

 The proposed investment (Project) is a total amount of up to US$40 million in the form of a secured A loan, with proceeds of US$7.5 million allocated to Ceylon Biscuits Limited (CBL) for the Ghana expansion (CBL West Africa #51967), US$7 million to CBL Global Foods Limited, and US$15 million to CBL Investments Limited for the acquisition of a coconut milk manufacturing plant in Indonesia (CBL Investment #46576 and CBL Indonesia #52010).  The Environmental and Social Review Summary (ESRS) and Environmental and Social Action Plan (ESAP) encompass all three transactions and serve as a common document for the three related projects.  CBL Group (the “Group” or the “Company”) is one of Sri Lanka’s largest food manufacturing conglomerates. The Group operates in three main food businesses – (i) confectionaries (e.g. biscuits, chocolates and cakes); (ii) packaged (convenience) foods (e.g. nutri-foods, cereals, soy-based products, soups, noodles and porridges in original, value added and ready to eat formats); and (iii) natural foods (e.g. coconut-based products (largely milk), fruit products and spices)     The CBL’s Ghanaian subsidiary (CBL West Africa Ltd.) was established in 2020 and is in an industrial district of Accra.  The coconut processing plant to be acquired in Sulawesi, Indonesia located in modified agricultural habitats within an existing coconut plantation.