PROJECT

Projects

Summary of Investment Information

Project Number

32253

Company Name

CORPORACION MONTELIMAR, S.A.

Date SPI Disclosed

Mar 6, 2013

Country

Nicaragua

Region

Latin America and the Caribbean

Projected Board Date

May 9, 2013

Environmental Category

A - Significant

Status

Completed

Last Updated Date

Mar 13, 2024

Department

Regional Industry MAS LAC & EUR

Industry

Agribusiness and Forestry

Previous Events

Approved : May 9, 2013
Signed : Jun 27, 2013
Invested : Oct 29, 2013

Sector

Sugar and Confectionery

Project Description

Consorcio Naviero Nicaraguense SA (“Navinic” or the “Company”) owns the smallest of four sugar mills in Nicaragua (Montelimar mill), with a milling capacity of 2,300 tons of sugar cane per day (“tcd”). The project involves an increase in the Company’s sugar annual production from 33kton to 67kton and includes: i) the acquisition of 1,628 ha of land to increase own planted area to 5,262 ha, ii) investment in irrigation and other infrastructure in the field, iii) increasing milling capacity to 4,100 tcd, iv) acquiring additional harvesting and transportation equipment and v) funding incremental working capital needs (the “Project”).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation