Summary of Proposed Investment
Project Number
7022
Company Name
TicoFrut, S.A.
Date SPI Disclosed
Jun 8, 1995
Country
Costa Rica
Industry
Agribusiness and Forestry
Status
Completed
Sector
Fruit and Vegetable Preservation or Processing (Canning, Freezing, Drying, Jams, etc.)
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Aug 29, 1995
Signed : Dec 1, 1995
Invested : Dec 12, 1995
Project Description
Summary Of Project Information (SPI)
| Project Name | Costa Rica-TicoFrut S.A. |
| Region | Latin America and Caribbean |
Sector
Project No007022
Projected Board DateJuly 14, 1995
Company NameTicoFrut S.A.
Technical Partner and/or Major Shareholders
The principal shareholder is Mr. Carlos Odio, a Costa Rican industrialist with broad experience in fruit juice processing.
Project Cost Including proposed IFC investment
Project cost is estimated at US$26 million. IFC is considering debt financing in the amount of US$10 million: US$5 million for its own account and US$5 million which will be syndicated.
Location of project and Description of site
The processing plant is located at Aguas Zarcas de San Carlos, a rural area in Alajuela Province of Costa Rica, in the heart of the citrus and pineapple production region of the country.
Description of Company and Purpose of Project
The Company produces single strength juices and frozen concentrated juices mainly for export. The project involves increasing processing capacity from 1.8 million orange boxes to 5.5 million boxes, installing bulk juice handling and storage facilities, and erecting a feedmill to convert orange peel into animal feed.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure. Environmental and occupational and health issues associated with this project include air emissions, water and solid waste recycling, liquid effluent and occupational health and safety standards. As part of the upgrading of the facility, new boilers using low-NOx burners will be installed. The air emissions will comply with local requirements and World Bank guidelines. By condensing process vapors and recycling 180,000 gpd, the raw water consumption will be limited to 20,000 gpd. The peel from the juice pressing has until now been landfilled. A new recovery unit will allow this waste to be dried for use in cattle feed production. A new wastewater treatment plant will be installed. After treatment, the wastewater will have BOD <50 mg liter, TSS <50 mg/liter and will comply with local requirements and World Bank guidelines. The facility will meet OSHA standards for occupational health and safety. IFC will ensure ongoing compliance with World bank guidelines during the life of the project by evaluating monitoring reports submitted annually by TicoFrut and by conducting periodic supervision.
The is June 15, 1995 from the Public Information Center.
| Date SPI sent to PIC | June 8, 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
Related ESRS/ERS
