MANDARIN OVERSEAS ROBOTICS ENTERPRI
Status: Approved investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Mandarin Overseas Robotics Enterprise is a special purpose vehicle set up to provide funding to PT Metindo Erasakti (the Company). The Company is one of the largest privately-owned Tier-1 steel automotive parts manufacturers in Indonesia with a diversified and longstanding blue-chip customer base. It has state-of-the-art production facilities located in prime industrial estates in Java. It is recognized locally due to its high level of automation and production efficiency and spearheads most of the Company’s strategic initiatives.
What is our funding objective?
FMO’s funding aims at supporting the automation and optimization of the Company’s production process.
Why do we fund this investment?
The investment will contribute to Decent work and Economic growth and Industries, Innovation and Infrastructure. In addition, FMO will support the Company with its ESMS and Corporate Governance.
What is the Environmental and Social categorization rationale?
E&S categorization B+ (medium) confirmed. Adverse E&S risks and impacts arising from the project are generally site specific and can be addressed through the implementation of Good International Industry Practice. IFC Performance Standards 1, 2, 3 and 4 and the General IFC EHS Guidelines and sector specific EHS guidelines for Metal, Plastic, and Rubber Products Manufacturing are applicable to this investment. PS 5 is not considered to have been triggered as no impact on biodiversity, indigenous peoples and cultural heritage are expected. IFC PS 6-8 are also not triggered based on the earlier due diligence findings.
- Region
- Asia
- Country
- Indonesia
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 4/23/2019
- Total FMO financing
- USD 12.29 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+