Project detail - USHER AGRO LIMITED


Status: Completed investment
Back to map

Why 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


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

Usher Agro Limited, one of the largest single location integrated rice mills in the world, will be receiving an USD 7.5 mln subordinated loan from IDF, this loan will be on-lent in the form of (quasi) equity to Usher Eco Power Limited.

What is our funding objective?

The money will be used to increase the Solvency of Usher Eco Power Limited, as the loan will be on-lent to Usher Eco Power in the form of (quasi-) equity.

Why do we fund this investment?

The end user of the funds, Usher Eco Power Limited, will use the waste product of the rice milling in Usher Agro Limited to produce electricity. Furthermore, the ensuing rice husk ash will serve as the basis for production of precipitated Silica, which has mutliple uses, a.o. in the tyre industry. The project fits well within the strategy of Agri (food production at Usher Agro) and Energy (Electricity production in an energy deprived state in India), and is classified as green.

Website customer/investment
Agribusiness, Food & Water
Effective date
End date
Total FMO financing
INR 503.25 MLN
Building Prospects
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)