Regional: Indorama Ventures Regional Blue Loan Project

Nonsovereign Project | 54333-001

Project Details

  • Project Officer
    Gulshan, Karan Raj
    Private Sector Operations Department
    Request for information
  • Country/Economy
  • Sector
    • Water and other urban infrastructure and services
Project Name Indorama Ventures Regional Blue Loan Project
Project Number 54333-001
Borrower / Company Indorama Ventures Global Services Limited
Indorama Ventures Public Company Limited
Country / Economy Regional
Location India - Nation-wide; Indonesia - Nation-wide; Philippines - Nation-wide; Thailand - Nation-wide
Type or Modality of Assistance
4008 Loan Ordinary capital resources USD 50.00 million Approved
8386 Loan Leading Asia's Private Infrastructure Fund (LEAP) USD 50.00 million Approved
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Water and other urban infrastructure and services / Urban solid waste management

Gender Equity and Mainstreaming No gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Portfolio Management Division, PSOD
Responsible ADB Officer Gulshan, Karan Raj
Project Sponsor(s) Indorama Ventures Public Company Limited
Objectives and Scope The loan will support Indorama Ventures group (IVG), a global integrated polyethylene terephthalate (PET) manufacturer, for their expansion of PET recycling capacity in India, Indonesia, the Philippines, and Thailand. The Asian Development Bank (ADB) financing will help promote a circular economy for recycled PET (rPET) with industry best practices in ADB's developing member countries (DMC). The loan will be ADB's first internationally verified nonsovereign blue loan, and ADB's involvement will also ensure compliance with rigorous environmental and social safeguard standards.
Status of Development Objectives The project aligns with ADB's Action Plan for Healthy Oceans and Sustainable Blue Economies, which calls for ADB to expand its investments and technical assistance to $5 billion during 2019-2024.
Status of Operation/Construction Target completion in 2022.
Linkage to Country/Regional Strategy The project is consistent with and supports two operational priorities of ADB's Strategy 2030: (i) operational priority 3 (tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability); and (ii) operational priority 4 (making cities more livable). It also supports Strategy 2030's objectives of fostering regional cooperation and integration, and for ADB to expand private sector operations and to pursue development impact.
Safeguard Categories
Environment B
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects IVG's environmental management system was built from the ISO 14001 certification that focuses on environmental management for operational sites. IVG prepares all the regulatory environmental permitting documentation following applicable local regulatory requirements.
Involuntary Resettlement IVG's existing facilities for its recycling business are in industrial zones on land areas that are either leased or purchased and thus no involuntary resettlement impact is envisaged.
Indigenous Peoples IVG's recycling facilities are typically located in industrial zones, away from areas where indigenous peoples or distinct and vulnerable sociocultural groups can be found.
Stakeholder Communication, Participation, and Consultation IVG's ESMS provides guidance in working with stakeholders and partners. The ESMS will be enhanced to include, among others, establishment of a formal grievance redress mechanism at the subproject level to allow for filing, handling, and resolution of complaints or grievances, including procedures for providing feedback, documentation, and reporting.
Timetable for assistance design, processing and implementation
Concept Clearance 25 Aug 2020
Credit Committee Meeting 20 Oct 2020
Approval 23 Nov 2020
Last PDS Update 05 Feb 2021

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

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Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

Titlesort descending Document Type Document Date
Indorama Ventures Regional Blue Loan Project: Environment and Social Compliance Audit Report Environment and Social Compliance Audit Reports Jun 2021

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.

The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

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