Summary of Proposed Investment
Project Number
7436
Company Name
Societe de Production de Legumes S.A.
Date SPI Disclosed
May 18, 1996
Country
Cameroon
Industry
Agribusiness and Forestry
Status
Completed
Sector
Grains and Beans
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : Jun 24, 1996
Signed : Nov 28, 1996
Invested : Dec 30, 1996
Project Description
Summary Of Project Information (SPI)
| Project Name | Cameroon-Proleg II |
| Region | Sub-Saharan Africa |
| Sector |
Projected Board DateJune 20, 1996
Company NameSociété de Production de Legumes (PROLEG)
Technical Partner and/or Major Shareholders
Mr. Victor Fotso, promoter and main shareholder, along with his family. Mr. Fotso is a well-known Cameroonian industrialist with business interests in manufacturing, real estate and tourism.
Project Cost Including proposed IFC investment
Project cost is estimated at CFA 800 million (US$1.6 million equivalent) to be financed entirely by equity. IFC has been asked to provide equity of CFA 250 million (US$500,000 equivalent). This would be a repeat investment, as IFC had earlier partially funded the establishment of PROLEG’s commercial farm and processing facility with a loan of US$1 million equivalent.
Location of project and Description of site
The expansion will be at the company’s current site in Bandjoun, western province of Cameroon, where a total of 200 ha of land has been developed for the growing of green beans.
Description of Company and Purpose of Project
The Company was set-up in 1992 to collect, process and export extra fine green beans to Europe. The beans are produced in part by PROLEG’s own large-scale farm and in part by more than 10,000 small outgrowers to whom the company provides extension services. The Company now proposes to increase green bean production from 1,700 to 2,500 tons with financial assistance from IFC. IFC’s new investment will be a sign of continued support to the Company and will facilitate the mobilization of additional loans from local banks. Management will also be strengthened. Through the outgrowers scheme, the project will create jobs and help support thousand of rural families in Western Cameroon. As an export operation, it will help the country earn more foreign exchange.
Environmental Category and Issues
This is an environmental review Category B project. Key environmental and occupational health and safety issues of potential concern include environmental impacts of past operations, chemical handling and application, integrated pest management, water supply and management, provisional of personal protective equipment and general employee safety and training. Past operations have proven to have no adverse environmental impacts. Chemicals storage conditions were found adequate and application is handled by especially trained workers would are provided with sound protective equipment. The company has sumbitted information addressing all of the issues listed above. An ERS has been drafted and released to the PIC.
The is from the Public Information Center.
| Date SPI sent to PIC | May 18, 1996 |
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
