PROJECT

Projects

Summary of Investment Information

Project Number

47415

Company Name

SUGAL GROUP

Date SPI Disclosed

May 4, 2023

Country

Chile

Region

Latin America and the Caribbean

Projected Board Date

Jun 5, 2023

Environmental Category

B - Limited

Status

Active

Last Updated Date

Aug 18, 2023

Department

Regional Industry MAS LAC & EUR

Industry

Agribusiness and Forestry

Previous Events

Approved : Jun 13, 2023
Signed : Jul 3, 2023
Invested : Aug 16, 2023

Sector

Fruit and Vegetable Preservation or Processing (Canning, Freezing, Drying, Jams, etc.)

Project Description

 Sugal Chile Limitada (“Sugal Chile” or the “Company”) is the Chilean subsidiary of the Sugal Group (the “Group”), a tomato paste producer and exporter. The Group sources tomato in Spain, Portugal and Chile, and processes c.a.1.8 million tons of tomatoes per year.

The proposed IFC investment is composed of an up to USD25 million A loan and an up to USD25 million MCPP loan for Sugal Chile to finance its capex program and permanent working capital, including (i) a new tomato paste production line in Talca, (ii) the maintenance of the Tilcoco Plant, (iii) decarbonization of energy consumption, and (iv) processes reengineering (the “Project”).                                                

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation