Company name
Haas Machine Tools, S.A. de C.V., Nexttec Machinery, S.A. de C.V., A&G Plastic Machinery, S.A. de C.V., Hifin Solution, S.A. de C.V. y Hitec Cnc Maquinaria México, S.A. de C.V. (“Hitec” o el “grupo”).
Project number
14917-01
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
Mexico
Sector
Manufacturing
Status
In implementation
Disclosed date
06/21/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/23/2024
Approval date
09/25/2024
Signed date
10/24/2024
Sponsoring entity
N/A
Investment Operations Department Contact
Corporates Division
Investment type
Syndicated amount
USD $ 15,000,000
Financing amount
USD $ 15,000,000
Currency
USD
Project scope and objective
The Project consists of two loans to finance HiTec Group’s expansion program in Mexico. The first loan (Hitec II) will be granted to Haas Machine Tools, S.A. de C.V. (“HiTec” or the “Company”) to, in part, refinance the outstanding balance of the existing loan granted by IDB Invest to the Co-Borrowers and the remainder to finance the growth of HiFin Solutions, S.A. de C.V.’s loan portfolio for the acquisition or leasing of high-precision computer numerical control equipment and machinery by HiTEC’s clients in Mexico (primarily micro, small and medium-sized enterprises – “MiPyMES”). The second loan (“Hitec NI”) will be granted to Inmobiliaria Quasar, S.A. de C.V., an affiliate of Grupo HiTec, to finance the construction of an industrial warehouse in the state of Querétaro for the operations of Grupo HiTec.
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Contact information
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Request informationAlternatively, you may also use the following contact information :
Client Contact
infor@grupohitec.com
PHONE NUMBER
n/a
POST OFFICE ADDRESS
Centro Industrial Tlalnepantla 54030 Tlalnepantla de Baz Estado de Mexico, 54030 Mexico
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.
HITEC II - PLAN DE ACCIÓN AMBIENTAL Y SOCIAL (PAAS O ESAP)
92.2 Kb
HITEC II - RESUMEN DE LA REVISIÓN AMBIENTAL Y SOCIAL (RRAS O ESRS)
194.6 Kb