Company name
ZZ Glass Inc. (ZZ Glass), Caribbean Glass Industry S.A. and Parque Caribbean Glass S.A.
Project number
12495-01
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
Dominican Republic
Sector
Manufacturing
Status
Inactive
Disclosed date
10/18/2019
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/30/2022
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
USD $ 10,000,000
Financing amount
USD $ 13,300,000
Currency
USD
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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Contact information
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Request informationAlternatively, you may also use the following contact information :
Client Contact
c.bermudez@izanzibar.com
PHONE NUMBER
(+809) 372-8275
POST OFFICE ADDRESS
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(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
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
95.3 Kb
ESAP - ZZ GLASS (V. 26 SEPT 2019)
233.2 Kb