Company name
Arvedi Metalfer do Brasil (“AMB”)
Project number
BR3826A-01
N/A
E&S category
N/A
Country
Brazil
Sector
Manufacturing
Status
In implementation
Disclosed date
09/28/2012
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/06/2012
Approval date
11/27/2012
Signed date
N/A
Sponsoring entity
Finarvedi SpA
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 54,000,000
Financing amount
USD $ 53,000,000
Currency
N/A
Project scope and objective
Arvedi Metalfer do Brazil (AMB) is a greenfield project in Brazil run by Italy’s Arvedi Group (www.arvedi.it), which has nearly 50 years’ experience in the manufacture of steel coils, welded steel tubes, carbon steel and stainless steel, cold drawn welded tubes, and high-pressure stainless steel strips. All of these activities are consolidated under the Finarvedi SpA company. It has proprietary technology to supply the automotive industry; the infrastructure and oil and gas sectors; and industry in general.
The proceeds from the IIC loan will be used to set up a new industrial plant in Indaiatuba in the municipality of Salto, São Paulo, for the production of 60,000 tons per year of welded tubes and 30,000 tons of cold-drawn welded tubes, in addition to funding working capital and pre-operative expenses.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
For inquiries, comments and information requests about the project
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Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW
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