CPLF- Hikal

completed

Hikal is a medium-sized manufacturer of Active Pharmaceutical Ingredients (“APIs”) and intermediates for the pharmaceutical industry and fine chemicals for the agrochemical industry. Since its inception in 1988, Hikal has focused on providing research and manufacturing services to clients and most of their production is exported. The Company has manufacturing facilities at Jigani (near Bangalore), Panoli (Gujarat), Mahad and Taloja (both near Mumbai) and R&D facility in Bangalore. Hikal also has a research centre (Acoris) in Pune.Hikal is embarking on a set of cleaner production (“CP”) initiatives at its facilities comprising of the following: establishment of briquette-fired boilers to replace furnace oil based boilers and establishment of a co-generation power plant with a planned capacity of 1MW setting up a production line for one of its key products, based on a new, “green” process that uses enzymes and eliminates the use of major solvents setting up a pilot plant to scale up green processes post development, and establishment of effluent treatment with water conservation facilities(hereinafter defined as the “Project”).The proposed investment is under IFC’s Cleaner Production Lending Facility (CPLF), which is used to finance CP related investments by an existing IFC client in good standing, which bring about quantifiable financial and environmental benefits.