Company name
Aceria del Ecuador C.A.
Project number
14466-01
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
Ecuador
Sector
Manufacturing
Status
In implementation
Disclosed date
08/11/2023
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/07/2023
Approval date
11/07/2023
Signed date
12/19/2023
Sponsoring entity
N/A
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 30,000,000
Currency
USD
Project scope and objective
This transaction consists of a total financing of up to US$30 million to Acería del Ecuador C.A (“Adelca”).
Adelca is the leading company in the production and marketing of steel products and derivatives in Ecuador, with an experience spanning 60 years. It focuses on meeting the needs of the construction sector through the wholesale channel and directly to its customers.
The proposed financing consists of: (i) a senior committed facility for up to US$15 million to finance imports of inputs for the development of a new steel production line; (ii) a senior uncommitted facility for up to US$10 million for the same use of funds; and (iii) a senior uncommitted loan for up to US$5 million to finance digital transformation projects to optimize its steel manufacturing process.
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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
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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.
ADELCA - ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)
266.2 Kb
ADELCA - ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)
174.1 Kb