Company name
Orofran S.A.
Project number
UR3826A-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Uruguay
Sector
Transport
Status
Completed
Disclosed date
09/23/2011
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/25/2011
Approval date
11/15/2011
Signed date
03/01/2012
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 8,500,000
Financing amount
USD $ 6,500,000
Currency
USD
Project scope and objective
The IIC loan for up to US$6.5 million will be used primarily to finance the construction and procurement of four river barges each with a capacity of 5,500 metric tons, and two tugboats.
Orofran would provide riverine log transport services for the Montes del Plata project from its M’Bopicua logistics terminal, in Soriano Department, to the port of Punta Pereira, in Colonia Department, some 150 kilometers south via the Uruguay River, under a five-year riverine transport contract, renewable for two additional years.
The Montes del Plata project involves the construction of a cellulose pulp mill for processing eucalyptus from commercial tree farms. It encompasses the construction and operation of a cellulose mill producing on the order of 1.3 million metric tons of cellulose per year; a 160-megawatt biomass power generation facility; a river port terminal; barge terminals with wood storage yards; and a wood chipping plant. The cellulose mill will use elemental chlorine free (ECF) technology. The industrial facilities will be constructed in a free trade zone in Punta Pereira, some 190 kilometers west of Montevideo. Montes del Plata is the largest foreign investment in the history of Uruguay. The Inter-American Development Bank (IDB) is currently studying how to structure its financing.
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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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