Company name
Mazazul Organics S.A. de C.V.
Project number
ME4056A-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
Agribusiness
Status
Completed
Disclosed date
01/17/2014
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
02/18/2014
Approval date
05/13/2014
Signed date
05/24/2014
Sponsoring entity
Fine Dried Foods International Inc.
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 786,000
Financing amount
USD $ 1,650,000
Currency
USD
Project scope and objective
The IIC financing will be used to partially fund the expansion of existing Mazazul Organics S.A. de C.V. (“Mazazul”) operations, in cooperation with the sponsor, Fine Dried Foods International Inc. (“FDFI”). The first phase of construction expands operational capacity via an additional processing facility in Arriaga, in the state of Chiapas, and the second constructs an additional, separate processing facility near Zihuatenejo, in the state of Guerrero.
Mazazul was founded in 1998 to increase the supply of high-quality tropical fruit available for sale by FDFI in the United States and Europe. The company’s primary activity is processing and packaging tropical fruit, with mangos, bananas, and pineapples comprising 99% of sales.
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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.
ENVIRONMENTAL AND SOCIAL REVIEW
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