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Company name

Grupo Fonderia S.A. de C.V.

Project number

14686-01

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

Mexico

Sector

Manufacturing

Status

Hold

Disclosed date

07/13/2023

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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02/23/2024

Approval date

N/A

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 11,000,000

Currency

MXN

Project scope and objective

This transaction consists of an uncommitted revolving reverse factoring facility (the "Factoring Facility") in favor of Grupo Fondería S.A. de C.V. (“Fondería” or the “Company”), for discounting or monetizing credit rights arising from the sale of goods and or services from suppliers to the Company. Fondería is a group engaged in the manufacture of steel products from recycled scrap. The Company has four production plants, all located in the SLP industrial zone, in Mexico. 

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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.

FONDERIA ENVIRONMENTAL AND SOCIAL ACTION PLAN (ESAP)

143.4 Kb

FONDERIA ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

276.5 Kb

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

rgarcia@fonderia.com

PHONE NUMBER

+52 444 880 9676

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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