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KK Kingston
Summary of Proposed Investment

This Summary of Proposed Investment is prepared and distributed to the public 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 decision. Board dates are estimates only.

Project number 28111
Company nameK.K. Kingston Holdings Limited
Country
Papua New Guinea (IDA)
Sector1Industrial Machinery
Environmental categoryB
Department
StatusActive
Date SPI disclosedNovember 9, 2009
Projected board dateDecember 11, 2009
Previous EventsInvested: April 22, 2010
Signed: February 3, 2010
Approved: December 18, 2009
View Environmental & Social Review Summary (ESRS), click here
click here
  Overview     Sponsor/Cost/Location     Development Impact     Contacts     Attachments  

Project description
Company Description
KK Kingston Limited (the “Company”) is one of Papua New Guinea’s leading privately owned companies. The Company is PNG based and has leading positions in businesses such as (i) supplying industrial equipments (including rental of capital equipments) and after-sale services; (ii) manufacturing of plastic bottles, caps and food trays; (iii) manufacturing of rotational-moulded industrial plastic products; (iv) manufacturing of paper products; (v) manufacturing of chemical products; (vi) bottling and distributing of cooking oil; and (vii) importing finished goods for re-sale in the PNG retail market.

Project Description
The Project consists of supporting the Company’s capital expenditures program over the next 2 years and the restructuring plan of its equity base. The capital expenditures program includes (i) refurbishing existing plants and equipments to support the growth of the Company; (ii) replacing existing motor vehicles; and (iii) fitting out the new Port Moresby premise.

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