Company name
Avex S.A. ("Avex" or the "Enterprise")
Project number
AR3785A-01
N/A
E&S category
N/A
Country
Argentina
Sector
Agribusiness
Status
Completed
Disclosed date
08/09/2007
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/18/2007
Approval date
09/11/2007
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 29,800,000
Financing amount
USD $ 13,000,000
Currency
USD
Project scope and objective
Avex is a vertically integrated poultry operation located in Río Cuarto, in the province of Córdoba. The enterprise, which started operations in 2007, seeks to produce and market chicken meat and chicken products and export most of its production (approximately 70%). Avex will have an initial production capacity of some 60,000 chickens per day, equivalent to approximately 4% of the total number of chickens slaughtered in Argentina in 2006.
The proposed loan will be used mainly to finance working capital needs during the start-up of production and marketing activities. With this project, the Corporation will provide financial support to a new enterprise, the purpose of which is to convert vegetable protein with low value-added into animal protein with greater value-added. Avex will be labor-intensive and will provide direct employment for approximately 300 people at peak production capacity. The demand for direct labor for this project is having a significant impact on the city of Río Cuarto.
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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.
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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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