Company name
Zonamerica S.A.
Project number
UR1057A-01
N/A
E&S category
N/A
Country
Uruguay
Sector
Manufacturing
Status
Completed
Disclosed date
09/05/2003
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
10/01/2003
Approval date
10/01/2003
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
N/A
Currency
USD
Project scope and objective
Zonamerica leases free zone office and warehouse space. The Company has focused its investments on the logistics sector, technology companies (software and biotechnology), and multinationals that provide shared services and offshore financial services. With this operation, the Corporation seeks to support Uruguay's sector of logistics, technology, and business platform parks, which has proven to be highly competitive in the MERCOSUR area, capitalizing on such comparative advantages as location, availability of skilled labor force, and infrastructure.
The project consists of several subprojects: (i) construction of an office building (@3) as part of a complex with four intelligent buildings (Silicon Plaza) that will house software development and high-tech companies; (ii) transforming two warehouses into office buildings; (iii) converting an industrial plant into an office and laboratory building to attract biotech companies; (iv) investing in complementary technological, service, and infrastructure equipment to improve the services currently provided and meet the demand generated by the increased capacity of the park; and (v) investing in surrounding land for future Zonamerica development. The goal is to consolidate Zonamerica's position and maintain its competitive advantage over other free zones and industrial parks that cannot offer the same mix of benefits, infrastructure, and range of services.
The IIC's role in the proposed operation is important because it will enable Zonamerica to expand its services and consolidate its position as a reliable provider of technology and business platform services. This long-term financing will lead to the creation of 1,100 jobs in the park, in addition to 300 jobs during construction.
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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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