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Home » CleanTech/ Renewable Energy » IFC To Lend $7M For Himadri Chem Project to produce carbon black

IFC To Lend $7M For Himadri Chem Project to produce carbon black

According to reports, International Finance Corporation (IFC) is looking to lend around $7 million (Rs 32 crore) to Bain Capital and Citigroup Venture Capital-backed Himadri Chemicals & Industries Ltd, India’s largest producer of coal tar pitch which is utilised in the production of aluminum and graphite. This is a part of the fund-raising process of a larger $150 million investment plan of Himadri.

Besides specialising in high quality coal tar, Himadri also produces carbon black which utilises as feedstock various oils from the coal tar pitch manufacturing process. The company is an existing IFC client and it is investing in several projects with energy-efficient components in the form of fossil fuel abatement, power generation, reduced emission and CO2 credits, among others.

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