Company name
Corandes S.A. as borrower, Industria Nacional de Envases S.A., INESA, or INESA Chile S.A. as guarantor
Project number
RG3866A-01
N/A
E&S category
N/A
Country
Sector
Manufacturing
Status
In implementation
Disclosed date
10/23/2009
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/24/2009
Approval date
12/01/2009
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 8,000,000
Currency
N/A
Project scope and objective
Corandes S.A. is Argentina’s leading manufacturer and marketer of tinplate containers for fruit, vegetables, meat and meat products, seafood, and aerosols, as well as metal caps. It also manufactures plastic caps.
Industria Nacional de Envases S.A., INESA, is the parent company of INESA group, which, in addition to Corandes, includes INESA Chile, INESA Perú, and INESA Brasil, among others. INESA Chile manufactures a wide variety of tinplate and aluminum containers and caps for the Chilean market. It is Chile’s largest producer of such containers; it serves the fishing, food, paint, chemical, wine and beverage, and aquaculture industries.
The purpose of the long-term IIC loan is to finance Corandes’s permanent operating fund requirements. The loan will strengthen Corandes’s financial structure and enable it to continue expanding and providing the market with high-quality containers.
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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
IDB Invest Country OfficesFor inquiries, comments and information requests about the project
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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
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