Company name
Pantaleon Sugar Holdings Company Ltd.
Project number
GU3768A-01
N/A
E&S category
N/A
Country
Guatemala
Sector
Agribusiness
Status
Completed
Disclosed date
04/24/2009
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
05/26/2009
Approval date
06/02/2009
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
USD $ 30,000,000
Financing amount
USD $ 95,000,000
Currency
N/A
Project scope and objective
The project consists of three groups of investments to increase sugar production in the Pantaleon sugar refinery in Guatemala, to expand cogeneration capacity in Pantaleon cogeneration plant in Guatemala, and to increase ethanol production capacity in Guatemala and Nicaragua. The IIC loan will help Pantaleon to consolidate its operations in the sugar industry and to deepen diversification of its product line. Pantaleon Sugar Holdings Company Ltd. is the largest diversified sugar cane producer and exporter in Central America with more than 100 years in operations. The group has sugar cane operations, mills, and refineries in Guatemala, Honduras, and Nicaragua. It supplies raw and refined sugar to the domestic market in Guatemala and raw sugar to the domestic market in Honduras and Nicaragua, and it exports raw and refined sugar, molasses, ethanol and other related products to the world market including the U.S. In addition, Pantaleon’s cogeneration facilities supply power for sale to the national grids in Guatemala, Honduras, and Nicaragua.
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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 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(292) 623-3952.
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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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