Summary of Proposed Investment
Project Number
7584
Company Name
Multi Produits S A
Date SPI Disclosed
May 15, 1996
Country
Cote D'Ivoire
Industry
Agribusiness and Forestry
Status
Completed
Sector
Wholesale (Including Grocery and Farm Products)
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : Jun 27, 1996
Signed : Jan 10, 1997
Invested : Mar 27, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Cote d’Ivoire-Multiproduits - SODIRO |
| Region | Sub-Saharan Africa |
| Sector |
Projected Board DateJune 25, 1996
Company NameSODIRO S.A.
Technical Partner and/or Major Shareholders
Mr. Gaoussou Touré, an Ivorian businessman, and his family.
Project Cost Including proposed IFC investment
The estimated project cost: US$8.3 million. IFC Guarantee: a local currency guarantee of up to US$3.0 million equivalent approximately.
Location of project and Description of site
The Company’s operations are located in Odienné, the largest city of Northwestern Côte d’Ivoire.
Description of Company and Purpose of Project
SODIRO is the processing subsidiary of the Odienné-based Multiproduits/SODIRO Group which is involved in food processing and distribution. The devaluation of the CFA Franc has made locally grown rice more competitive and the Company hopes to capitalize of this new opportunity by modernizing and upgrading its rice milling factory to its nominal 20,000 tons per annum. In addition, other project investments are expected to improve the efficiency of the Group’s distribution network and extend agricultural support services to about 700 existing rice farmers. The project will benefit the Ivorian economy by saving around US$3.5 million annually in hard currency rice imports, and stimulating employment and revenue generation for farmers in one of the country’s poorest regions. This contribution is particularly significant because Odienné suffers from heavy unemployment and depopulation. The SODIRO plant is Odienné’s first and so far only industrial installation, and the project will assist in expanding and consolidating its operations.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure. Environmental and occupational and health issue associated with this project include air emissions, solid waste recycling, safety standard, induced development, and employee training standard. The only air emissions are dust from the rice handling and milling operations, and air filtering systems will be incorporated into the design. The waste husks from the milling process and the dust from the air filtering systems are returned to the farmers for composting and recycling as organic soil improver. The rice mill will be designed according to European Community standards for occupational health and safety, and dust explosion prevention. The induced development in the surrounding area will be limited to an increase in the work force needed. Sodiro’s technical staff has a high level of competence and the present training level will be extended to cover the new milling facility. IFC will ensure on-going compliance with World Bank guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC by Sodiro and by conducting periodic supervision.
The is from the Public Information Center.
| Date SPI sent to PIC | May 15, 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
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