Summary of Proposed Investment
Project Number
5123
Company Name
Bunge Alimentos S.A.
Date SPI Disclosed
Oct 5, 1995
Country
Brazil
Industry
Agribusiness and Forestry
Status
Completed
Sector
Animal Slaughtering and Processing
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Nov 9, 1995
Signed : Dec 21, 1995
Invested : Dec 28, 1995
Project Description
Summary Of Project Information (SPI)
| Project Name | Brazil-Ceval 2000 |
| Region | Latin America |
| Sector |
Projected Board DateNovember 7, 1995
Company NameCeval Alimentos S.A.
Technical Partner and/or Major Shareholders
The Company’s shares are publicly listed in the São Paulo and Rio de Janeiro Stock Exchanges. The majority shareholder is Cia. Hering, a Brazilian textile group, with 40% of total shares and 81% of the voting shares. The balance is held by independent investors, Brazilian banks and pension funds, IFC (3.56% shareholding from a previous investment), foreign funds, and the Brazilian public.
Project Cost Including proposed IFC investment
Project Cost: US$ 435 million. Proposed IFC investment: US$ 45 million. Proposed syndication: up to US$ 100 million
Location of project and Description of site
The project will be located in the states of: Maranhão (soybean crushing plant); Santa Catarina, Paraná, São Paulo and Mato Grosso do Sul (expansion of existing meat processing facilities); Bahia (meat processing plant); and Ceará (oil refinery and canning plant).
Description of Company and Purpose of Project
Ceval Alimentos S.A. is undertaking a five year, US$ 435 million investment program to expand production and distribution capacities to meet expanding market demand and gain market share. Ceval Alimentos S.A. is an integrated producer and seller of soybean and corn products as well as poultry and pork meat products. It operates 11 soybean crushing plants, 2 corn processing facilities, 6 oil refineries, 1 margarine producing plant and 10 poultry and swine meat processing facilities. The Project includes increasing soybean crushing capacity from 14,900 to 16,400 tpd; oil refining capacity from 1,980 to 2,280 tpd; and meat processing capacity from 175 million chickens and 1.6 million pigs to 316 million chickens and 2.8 million pigs p.a. Nearly 40% of the total project cost will be invested in the northeastern states of Bahia, Ceará and Maranhão.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure. Environmental and occupational health and safety issues associated with this project include air emissions, liquid effluents, solid wastes, and general employee training, health and safety. Facility equipment that may generate air emissions are equipped with mitigating devices. Ceval has invested heavily in effluent treatment plants. Currently, the plants are in optimization phase and are complying with local regulations. Optimization will continue to ensure compliance with World Bank guidelines. Solid and organic waste are reused or processed for recycling. Ceval’s storage facilities are in accordance with international norms. Employee occupational health and safety issues are addressed through a comprehensive occupational program that extends to worker’s family. Corporate safety includes internal audits, accident investigations, risk management and record keeping. IFC will ensure ongoing compliance with World Bank guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by Ceval, and by conducting periodic supervision.
The is from the Public Information Center.
| Date SPI sent to PIC | October 5, 1995 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
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