Company name
Caracol Knits, S.A. de C.V.
Project number
HO1042B-01
N/A
E&S category
N/A
Country
Honduras
Sector
Manufacturing
Status
Completed
Disclosed date
09/30/2005
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/01/2005
Approval date
11/08/2005
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 4,500,000
Financing amount
USD $ 11,500,000
Currency
USD
Project scope and objective
The objective of the Caracol Knits cogeneration project is to reduce the company’s energy costs and ensure its energy supply, eliminating costs due to power failures. To accomplish this, Caracol Knits has engaged the Spanish company INGEMAS to perform the construction work and install an engine manufactured by Mann B&W DIESEL AG, AUGSBURG (Germany).
The project also includes the purchase and installation of a printing machine that will enable the company to broaden its product range. It also provides for complementary water treatment equipment to improve wastewater quality, substantially reducing the company’s costs.
Through its participation, the IIC will be supporting the Honduran textile export industry because the Company is a major fabric supplier and exports all of its production. The Company is known both locally and internationally as a leader in the textile sector and is a major employer in northern Honduras. The cost savings resulting from this project will enable the company to maintain its competitive advantage and continue improving its efficiency.
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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
Request informationLearn more about how we provide private-sector solutions in the region .
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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