Company name
Vale do Paraná S.A. Álcool e Açúcar
Project number
12010-01
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
Brazil
Sector
Agribusiness
Status
Proposed
Disclosed date
07/25/2017
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/25/2017
Approval date
09/06/2017
Signed date
02/20/2018
Sponsoring entity
Pantaleón Sugar Holdings Company Limited (“PSH” or “Pantaleón”) and Inversiones Manuelita S.A. (“Manuelita Group”)
Investment Operations Department Contact
Corporates Division
Investment type
Syndicated amount
USD $ 30,000,000
Financing amount
USD $ 25,000,000
Currency
USD
Project scope and objective
The proposed operation consists of a US$55 million senior loan to VDP, with a tenor of up to 8 years, including a 1.5-year grace period, to be used as follows: (i) US$28 million for the expansion and renewal of sugarcane plantations; (ii) US$20.5 million for the installation of a sugar factory with production capacity of 850 tons of raw sugar per day; and (iii) US$6.5 million to carry out adjustments to integrate the mill with a 48MW electric power cogeneration plant to be developed in a joint venture with Albioma (the "Loan").
VDP, established in 2003, located in Suzanapolis, Brazil, produces and commercializes ethanol, made from sugarcane, in the Brazilian market. In 2016, the Company milled 1.6 million tons of sugarcane and produced 139,000 m3 of ethanol, totaling sales of US$79 million.
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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
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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 SUMMARY
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