Oriental Carbon and Chemicals Ltd.

completed

The Project Company is Continental Carbon India Limited, which has acquired the carbon black division of OCCL. OCCL is a second tier chemical company in India, established in 1978. OCCL underwent a major corporate restructuring in 2000, with the sale of its carbon black business as part of the project. The carbon black division of OCCL is currently the fourth largest producer of carbon black in India. The project includes a three-stage investment program including: debottlenecking of the existing carbon black facilities, expansion of the carbon black facilities, and expansion of the electrical co-generation facility. IFC investment will help the Indian government pursue its endeavors in the corporate restructuring by attracting foreign investment in one of the poorest regions in the country. IFC investment will also contribute to creating a world-class private company through the transfer of state-of-the-art technology and managerial know-how from the sponsor. The project will have a positive social impact by preventing layoffs that would be very likely had OCCL not found a strategic partner for its carbon black business. In addition, the sponsor will have a systematic education program for the local employees.