Beijing, July 11, 2012—
IFC, a member of the World Bank Group, has provided a $30 million loan to SNF (China) Flocculant Co. Ltd. to expand and upgrade a plant that manufactures a wastewater-treatment chemical, helping various industries in China to conserve water. The plant is located in Taixing city in the eastern Chinese province of Jiangsu.
SNF (China) Flocculant (also known as SNF Taixing) is wholly owned and operated by France-based SPCM SA, the world’s largest manufacturer of polyacrylamide, one of the most effective chemical to treat sewage. SNF Taixing is the largest supplier of polyacrylamide in China, producing enough of the chemical to treat more than 15 billion cubic meters wastewater annually.
“IFC’s long-term financing enables us to make our Taixing plant a world-class operation and to offer competitive products to more Chinese clients,” said Pascal Remy, Chairman of SPCM SA. “We look forward to partnering with IFC to provide wastewater treatment solutions in other emerging markets.”
Wastewater treated by polyacrylamide can be re-used for other industrial purposes, allowing companies to save money and use less fresh water. The chemical is also used by sewage plants in China to treat wastewater before being released into the environment.
“Private sector can play a catalyst role in tackling global challenges like water scarcity and pollution,” said Janamitra Devan, Vice President and Head of Network, Financial, and Private Sector Development of the World Bank Group, who attended the loan signing in Beijing. “Businesses like SNF with world-leading technology can help industries increase the recycling of wastewater and thus, reduce their use of fresh water. They can also improve the quality of discharged water to protect the environment.”
China’s fast-growing economy, large population, and rapid urbanization have led to increased degradation of its water resources. IFC has been supporting projects that promote effective use and treatment of water in China through financing and technical advice. Earlier this year, IFC invested $16 million in United Water Corporation to improve water supply in Suqian city, also in Jiangsu province.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
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