Company name
Caracol Knits S.A. de C.V. (“CK”)
Project number
HO1042A-03
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
Honduras
Sector
Manufacturing
Status
Completed
Disclosed date
05/17/2013
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
06/18/2013
Approval date
07/02/2013
Signed date
12/23/2013
Sponsoring entity
Not applicable
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 22,000,000
Financing amount
USD $ 5,590,000
Currency
USD
Project scope and objective
CK is a company whose core activities are the manufacturing, processing, in-bond assembly, marketing, importing, and exporting of fabric, garments, and accessories. A full 81% of its manufacturing services are provided to Fruit of the Loom.
The objective of this IIC operation is to provide CK with financing for the second phase of its project to design, supply, and build the industrial and agricultural components of a biomass (king grass and Bio-G) generation plant in Honduras with 20 megawatts of nominal capacity. Approximately 15 MW of the power generated will be used in the textile operations of the CK group of companies and the remainder sold to the Honduran National Electric Energy Company (ENEE).
In the first phase, the company used its own resources to finance the installation of a saturated steam boiler capable of generating 35 tons of steam per hour and a backpressure turbine with 2 MW of installed capacity. The second phase consists of installing a boiler capable of generating 100 tons of steam per hour and a condensing turbine with 18 MW of nominal electric generating capacity. This phase also includes an investment in the agricultural components (planting of biomass crops) needed to fuel the boiler.
The total cost of the project is US$65.2 million (US$22 million for the first phase and US$43.2 million for the second).
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
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 OfficesFor 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
47.3 Kb