Vale do Paraná S.A. Álcool e Açúcar
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.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Pantaleón Sugar Holdings Company Limited (“PSH” or “Pantaleón”) and Inversiones Manuelita S.A. (“Manuelita Group”)
Antunes Castanho, Rafael
USD $ 30,000,000
USD $ 25,000,000
Project scope and objective
The proposed operation consists of a US$55 million senior loan to VDP, with a tenor of up to 8 years, including a 1.5-year grace period, to be used as follows: (i) US$28 million for the expansion and renewal of sugarcane plantations; (ii) US$20.5 million for the installation of a sugar factory with production capacity of 850 tons of raw sugar per day; and (iii) US$6.5 million to carry out adjustments to integrate the mill with a 48MW electric power cogeneration plant to be developed in a joint venture with Albioma (the "Loan").
VDP, established in 2003, located in Suzanapolis, Brazil, produces and commercializes ethanol, made from sugarcane, in the Brazilian market. In 2016, the Company milled 1.6 million tons of sugarcane and produced 139,000 m3 of ethanol, totaling sales of US$79 million.
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