GTSF - Rhodia

completed

This project is proposed under the Global Trade Supplier Finance program (“GTSF” or the “Program”) approved by the IFC Board in September 2010. (Original Project Link #28723)._x000B_Under the terms of this proposed investment, IFC will risk-participate with BNP Paribas in the latter''s credit facility issued to Utexam Logistics Limited (a subsidiary of BNP Paribas Ireland). Utexam Logistics Limited uses the credit facility to purchase guar from Indian suppliers for sale on a just in time to Rhodia, the internationally-known specialty chemicals company.Guar is an annual, leguminous plant, from the seeds of which guar gum and other derivatives are manufactured. These products are used in the food processing industry and also have a number of industrial applications. Worldwide, India is the largest grower of guar. Rhodia sources guar from selected companies in India, and Rhodia has a fifty percent (50%) equity interest in the largest of these suppliers (the “JV”).