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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
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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
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11/30/2022

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

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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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

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

c.bermudez@izanzibar.com

PHONE NUMBER

(+809) 372-8275

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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Learn more about how we provide private-sector solutions in the region .