The project Sponsors and largest shareholders of Toni are The Coca Cola Company (43.69%) from Atlanta, Georgia and Arca Continental SA (43.69%) from Mexico, both publicly traded companies. The Sponsors are supported by a professional, capable and committed management team, and a board of directors with relevant international experience in the beverage sector. The rest of the shares are owned by the Instituto Ecuatoriano de Seguridad Social (9.7%) and other investors (1.3%).

Total proposed project cost is estimated at US$110 million, including working capital needs and contingencies, of which IFC’s participation would be US$60 million, broken down as follows:
US$40 million Senior A loan.
US$20 million Senior Syndicated B loan.

40.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	40.0
Equity

* These investment figures are indicative

The project is located in the urban area of Guayaquil, Ecuador, in front of the Daule river. The new plant will have access to the Francisco de Orellana Avenue. Project’s terrain area is estimated at 178.000 m2.

1) Stamp of approval 2) Long-term financing, not available from local lenders 3) Indirectly supporting 3,400 small dairy producers 4) Supporting green building constructions, rarely seen in Ecuador

1) Incremental new employement in production and distribution networks 2) Stronger linkages and better production standards for 3,400 farmers 3) Incremental production capacity and reduced production costs

Key environmental and social impacts associated to this type of operation include environmental and social management, air emissions, liquid effluents, workplace noise and chemicals exposure, handling of hazardous materials, supply chain, and community related impacts.



The proposed investment qualifies as a Category B project as defined by IFC’s Environmental and Social Sustainability Policy (2012) because of potentially limited environmental and social impacts that may result from the expansion and operation of the existing facilities, all of which can be avoided or mitigated by adhering to generally recognized good practices and design criteria. The company has objectives and plans that seek to address environmental and social risks and impacts in accordance with Ecuadorian laws and relevant IFC Performance Standards (PS), including the applicable elements of the World Bank Group (WBG) General Environmental, Health, and Safety (EHS) Guidelines; the EHS Guidelines for Dairy Processing; and the attached Environmental and Social Action Plan (ESAP).



No land acquisition is expected as part of this project. The construction of the Aurora plant is taken place within a lot previously owned by the Company which was acquired on a willing seller - willing buyer basis. Therefore, PS 5 “Land Acquisition and Involuntary Resettlement” is not considered applicable. The ecological survey conducted as part of the ESIA showed that there were no flora or fauna species of particular importance on the project site and the results revealed that the vegetation has had anthropogenic alterations. Therefore, PS 6 - Biodiversity Conservation and Sustainable Management of Living Natural Resources is not applicable. Furthermore, the project’s area of influence is located in areas absent of communities that would be considered as ‘Indigenous’ as defined by the World Bank Group, thus PS 7 - Indigenous People is not considered applicable. Archaeological and historic sites were not found within the project site’s boundaries, thus PS8 - Cultural Heritage will not apply.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.