Company name
West Indies Energy Company S.A. (“WINECO”)
Project number
HA2773A-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
Haiti
Sector
Transport
Status
Completed
Disclosed date
11/15/2013
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
01/14/2014
Approval date
04/08/2014
Signed date
06/02/2014
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 700,000
Financing amount
USD $ 3,800,000
Currency
USD
Project scope and objective
WINECO is a liquid terminal that provides intake from vessels, storage and distribution by trucks or pipeline of bulk liquids ranging from petroleum products to industrial chemicals and edible cooking oils. WINECO is the largest petroleum and liquid bulk storage and handling facility in Haiti, with storage capacity of approximately 1 million barrels, spread over 22 tanks located adjacent to the port facilities owned by Terminal Vareaux S.A., (“TEVASA”), a related company.
TEVASA and WINECO are companies of the Wingroup (www.wingrouponline.com) owned by the Mevs family. TEVASA and WINECO have been in operations since 1990s. The Wingroup is a Haitian conglomerate with stakes in diverse industries such as warehousing, storage, port operations, cement distribution and commercial and residential real estate.
The IIC loan will be funded by an A Loan of up US$3 million from IIC’s own resources and a B loan of up to US$3 million from a bank participant. The IIC loan will be used for capital investments for a new pier to increase draft to about 14 meters, increase of storage capacity, and for other investments related to safety and operational efficiency.
With this project investment, WINECO will increase capacity to handle liquids and oils related products and will modernize its facilities. The IIC with this loan will help to expand and maintain key business infrastructure to support future demand of basic raw materials for the Haitian economy.
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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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