Company name
Chevron Caribbean SRL (“CCS”)
Project number
JA3383A-01
N/A
E&S category
N/A
Country
Jamaica
Sector
Manufacturing
Status
In implementation
Disclosed date
09/13/2012
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/16/2012
Approval date
11/06/2012
Signed date
11/08/2012
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 14,000,000
Financing amount
USD $ 31,000,000
Currency
USD
Project scope and objective
Marlin Jam is a company engaged in the marketing and distribution of fuel (diesel, gasoline, kerosene, fuel oil, jet fuel, and lubricants) and liquefied petroleum gas (LPG).
The objective of this IIC project is to provide Marlin Jam with the financing it needs to acquire the assets of CCS through the purchase of its shares. The seller of the shares would be Chevron Latin America Holding Limited, a company established under the laws of Bermuda.
For this transaction, the investment would be made jointly with Grupo Bigio—a partner the IIC supported during the acquisition of Dinasa, the latter of which has been an IIC client since 2010—and Grupo Martí of the Dominican Republic. Formerly Haiti’s second leading fuel distribution company; Grupo Bigio has made Dinasa the industry leader in all product lines and market segments.
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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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