Quick Facts

Where the impacts of the investment may be experienced.
  • Vietnam
Location: Phu An Thanh Industrial Park, Long An Province
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • International Finance Corporation (IFC)
Status: Active
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2011-06-06
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Agriculture and Forestry
  • Energy
  • Industry and Trade
Investment Type(s): Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 9.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD): $ 93.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

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Primary Source

Original disclosure @ IFC website
Updated in EWS: 2017-10-26
Disclosure Date: 2011-05-06
Vina Eco Board Co., Ltd.

Project Description
Vina Eco Board (“VECO” or “the Company”) will operate a wood processing and furniture business in Long An province, Vietnam. The Company also aims to connect with local farmers as wood raw materials suppliers and then provides advice and seedlings to them. For the wood waste, the Company will build a 11 MW bio-mass power plant to recycle the waste. In a long term, the Company is also planning to support the development of local wood processing industry by establishing the first particleboard facility in Vietnam.
Investment Description
Founded in 1691 in Japan, Sumitomo Forestry Co, Ltd. ("SFC" or the "Sponsor") is one of the most experienced companies in sustainable forest and plantation management, wood products and wood-based housing sectors. SFC is planning to invest in a USD 93 million project to establish a greenfield particleboard plant with an annual capacity of 250,000 m3 near Ho Chi Minh City, Vietnam (the "Project"). The new particleboard plant will be owned and operated by Vina Eco Board Co., Ltd. ("VECO" or the "Company"). VECO was established in May 2010 by SFC and Sumitomo Forestry (Singapore) Ltd., SFC's wholly owned subsidiary in Singapore.Incorporated in 1947, SFC is a publicly listed company on the first section of Tokyo Stock Exchange and Osaka Securities Exchange. SFC's shares are widely held by institutional investors, financial institutions as well as individual investors. The total project cost is estimated to be approximately USD93 million, and SFC plans to finance the Project with 50% in long term debt and 50% in equity. The proposed IFC investment is an equity investment of up to USD 9 million for up to 20% of VECO's share capital.
Contact Information
1/ Project Contact General Project Inquiries Sumitomo Forestry Co., Ltd. Keidanren Kaikan, 3-2, Otemachi 1-chome, Chiyoda-ku, Tokyo 100-8270, Japan Telephone: +81-3-3214-2220 2/IFC Contact General IFC Inquiries IFC Corporate Relations 2121 Pennsylvania Avenue, NW Washington DC 20433 Telephone: 202-473-3800 Fax: 202-974-4384E Mail: Webmaster 3/Local Access for Project Documentation Vina Eco Board Co., Ltd. D2-D7, Phu An Thanh Industrial Park An Thanh Commune, Ben Luc District Long An Province, Vietnam ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/