Summary of Proposed Investment
Project Number
25934
Company Name
MEREC INDUSTRIES SA
Date SPI Disclosed
May 16, 2007
Country
Mozambique
Industry
Agribusiness and Forestry
Projected Board Date
Jun 18, 2007
Status
Completed
Sector
Grain Processing (Milling, Starch, Flour, Malt)
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Oct 29, 2007
Signed : Jul 8, 2008
Invested : Oct 16, 2008
Project Description
Merec Industries Lda (Merec) was established in 1998 and is today the largest wheat miller in Mozambique. IFC provided partial guarantees for the establishment of the company’s first mill in 2000 and for the acquisition of a second mill in 2003.
The proposed project would allow Merec group to expand and optimise their operations through:
- the acquisition and installation of additional intake equipment at their two Maputo plants,
- the acquisition and building of warehouses and distribution center in Maputo and
- the purchase of additional trailers for ship unloading and goods distribution.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Mhamud Charania, Managing Director
Av. do Trabalho 1107, Maputo,
Mozambique
Tel.+258-2-1-401-850
Fax.+258-2-1-401-695
Details of the proposed operating procedures and mitigation measures will be provided in the Environmental and Social Review Summary (ESRS) and this Summary of Project Information (SPI) which will be available to the public at the following locations:
- World Bank offices in Maputo and Beira;
- Merec’s offices in Maputo
- World Bank Group Infoshop;
- World Bank Group Infoshop website at www.worldbank.org/html/pic/PIC/html
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384E Mail: Webmaster