The Project Sponsor, founder, majority shareholder and CEO of SONOCO is Mr. El Hadj Saliou Diallo, a successful 58-year old Guinean entrepreneur with a diversified portfolio of activities. Mr. Diallo started his career in the 1980s selling fresh bread from traditional bakeries, later moving on to petty trade, then flour imports before diversifying into other consumer products, spurring the growth of SONOCO into a leading Guinean business group.

IFC will provide up to US$25 million in the form of a senior A loan to partially finance the investment program of SONOCO.

The Project will include investment components located at the Port of Conakry and in the industrial zone of Conakry (Commune de Ratomba).

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability, because potential adverse environmental or social risks and/or impacts are limited, few in numbers, site-specific, largely reversible and readily addressed through mitigating measures aligned to generally recognized performance standards, guidelines, or design criteria.

The project will have two phases covering construction and operation activities, with specific E&S risks associated to these. Key E&S issues during construction include: i) occupational health and safety (OHS), ii) dust emission, noise, and vibration from vehicle transit and earth moving activities, as well as iii) the potential for soil erosion and associated land and surface water pollution. These impacts are expected to be temporary and will be minimized via implementation of the construction E&S management plan (ESMP). Key risks and issues during operations relate to the company’s capacity to: i) adequately manage environmental and social impacts of the company’s operation and expansion; ii) maintain fair, safe and healthy working conditions for direct employees as well as for contract workers; iii) establish and maintain internationally acceptable food safety standards (e.g. HACCP) in preparation, storage, delivery of food products; iv) ensure that the design and construction of all facilities accords with recognized building codes and life and fire safety standards, including dust explosion controls; v) pesticide use and management; and, vi) manage traffic safety in line with best international practice.