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Elif Egypt
Environmental & Social Review Summary

This Environmental and Social Review Summary(ESRS) is prepared and distributed in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC's activities, and this document should not be construed as presuming the outcome of the Board of Director's decision. Board dates are estimates only. Any documentation which is attached to this ESRS has been prepared by the project sponsor and authorization has been given for public release. IFC has reviewed this documentation and considers that it is of adequate quality to be released to the public but does not endorse the content.
Project number 33338
Egypt, Arab Republic of
RegionMiddle East and North Africa
SectorG-HA - All Other Chemical Product
Environmental category:B
Date ESRS disclosedMay 15, 2013
Last Updated DateJanuary 23, 2015
Previous EventsInvested: March 19, 2014
Signed: July 1, 2013
Approved: June 25, 2013
View Summary of Investment Information (SII), click here

OverviewE & S Project


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Project Description
The proposed Project involves a $15.5 million IFC A loan to support Elif Global Packaging S.A.E’s, (“Elif Egypt”, or the “Company”), in Egypt, and a $ 20 million loan to Elif Plastik Ambalaj Sanayi ve Ticaret A. S. (“Elif Plastik”), fully owned subsidiaries of the Salargil family (the “Shareholders”). Elif Egypt is planning to construct a new facility on 30,000 m2 land in the 6th of October City Industrial Zone, which is the most organized and well structured industrial area in Cairo. The construction is planned to start in April 2013 and the facility is scheduled to be operational by the beginning of 2014. Elif Plastik is the main operating company founded by the Salargil family of Turkey. The $ 20 million loan will be used for corporate purposes, mostly as working capital.

Elif Plastik is a global supplier in the plastics flexible thin films packaging industry primarily catering to consumer product companies. It is a market leader in its respective products in the Turkish market. Elif Plastik’s main products are used for packaging of cleaning, personal hygiene and food products. The company currently manufactures products from scrap (recycled products) and is procuring raw materials from international companies. The main raw materials are low density polyethylene (LDPE), polypropylene (PP), polyethylene tetra phthalate (PET) and aluminum. The production process includes extrusion of the plastic film, printing and converting (shaping). Elif Egypt will have the same process and will be using the same raw materials as the plant in Turkey.
Overview of IFC's Scope of Review
The scope of review was to evaluate Elif Egypt’s and Elif Plastik’s compliance with IFC’s Performance Standards (PS) including assessment of Elif Egypt’s and Elif Plastik’s management capacity and environmental, social, health and safety performance in relation to IFC’s Performance Standards, national (Egyptian for Elif Egypt and Turkish for Elif Plastik) regulatory requirements and the World Bank Group (WBG) General Environmental Health and Safety (EHS) Guideline, as well as the sector-specific EHS Guideline for Metal, Plastic and Rubber Products Manufacturing. The review relied on documents and reports made available by Elif Plastik and Elif Egypt, and observations during the site visit. In addition, meetings and interviews with the key staff (management, project management, quality, health, safety and environmental) were conducted, and relevant documents demonstrating the Company’s management capacity to provide adequate oversight of environmental, social, health and safety performance in conducting its business were discussed. During the appraisal IFC visited Elif Plastik’s existing facility in Esenyurt, Istanbul and the Elif Egypt’s project site at the 6th of October City Industrial Zone, near Cairo, Egypt.

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