Indorama Ventures PCL, a Thailand-based yarn manufacturer, has announced to set up a special appeal fund which will be used to provide financial support to selected local projects.
The initiative taken by Indorama is solely to support communities affected by coronavirus and its aftereffects.
Trevira GmbH, of which Indorama is the parent company, has already been allocated certain amount of fund for these two sites Bobingen (Bavaria) and Guben (Brandenburg). All Indorama employees have also been called for to contribute funds on a voluntary basis.
The funds are being allocated after checking eligibility of the projects. The eligible projects must be brought forward by officials of Indorama and its subsidiaries to ensure the recommended projects have a certain local connection to the areas of companies’ base location.
Once it’s identified, an internal and international jury then evaluates the project submissions and selects the most appealing one.
A total of 5 charities have already been chosen in Guben and Bobingen regions and, by the third week of May, a total of € 1,556 fund was distributed among 3 charities located in Guben which are claimed to be doing great social work during coronavirus pandemic.
Rest two charitable projects were selected for the Bobingen region, each of which received a donation of € 5,000.