Ferrum is controlled by FV S.A. (an IFC client) and Sydney Inversora. The remaining (12%) is publicly listed in the Buenos Aires Stock Exchange.                                                

    The total project cost is estimated at approximately US$20 million. IFC is proposing to participate with an A Loan of US$16 million (IFC’s own account).                                               

 The investments will be made in Ferrum’s plants in Pilar and Avellaneda (Buenos Aires Province, Argentina).                                      

  This is classified as a Category B project in accordance with IFC’s Policy on Environment and Social Sustainability. Based on information reviewed by IFC, the proposed project will have limited adverse environmental and social (E&S) impacts that are few, site specific, largely reversible and readily addressed through existing mitigation measures and good international industry practices (GIIP).

Key E&S issues associated with this project include Ferrum’s environmental, OHS, and HR policies and the way these are implemented across its facilities. Ferrum’s manufacturing operations have impacts related to water and energy consumption; air emissions from ovens and casting operations as well as liquid effluents from grinding and glazing. Other elements considered included activities related to emergency preparedness and response; community engagement; waste and hazardous materials management and OHS management.