ZZ Glass Inc. (ZZ Glass), Caribbean Glass Industry S.A. and Parque Caribbean Glass S.A.
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.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
USD $ 8,412,000
USD $ 11,216,000
Project scope and objective
ZZ Glass Inc., Caribbean Glass Industry SA and Parque Caribbean Glass SA (collectively, ZZ Glass, the Company or the Borrower) are Special Purpose Vehicles (SPVs) created for the development, construction and reactivation (putting back into operation) of an existing, abandoned glass bottle production plant located in the Pedro Brand Municipality in the Dominican Republic (the Project). ZZ Glass, which operates both as the central entity and the commercial arm of the Group, will market an annual production of 72,000 tons (MT) of glass bottles in both the Dominican Republic and the Caribbean through long-term contracts or through spot market transactions. The Project will benefit the local economy by (i) replacing glass bottle imports, and (ii) the generation of currently non-existent exports of this product.
The funds will be used (1) to acquire the land where the glass bottle production plant and existing fixed assets will operate; (2) to purchase machinery; and (3) for the civil construction required to refurbish the factory
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