Summary of Proposed Investment
Project Number
7812
Company Name
FRIAR SA
Date SPI Disclosed
Nov 20, 1996
Country
Argentina
Industry
Agribusiness and Forestry
Status
Completed
Sector
Animal Slaughtering and Processing
Department
Regional Industry MAS LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Feb 12, 1997
Signed : Jul 28, 1997
Invested : Aug 6, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Argentina - Friar S.A. |
RegionLatin America and the Caribbean
Sector
Project No007812
Projected Board DateDecember 20, 1996
Company NameFriar S.A.
Technical Partner and/or Major Shareholders
Since its establishment in 1960, Friar has been owned by a group of families, most of which are large cattle growers in Argentina’s northeastern region. The Pietropaolos and Ingaramos are the two largest shareholders, with ownership of 22% and 15% respectively. The rest of the shareholding is distributed among over 10 other local families
Project Cost Including proposed IFC investment
Total project cost is US$38.5 million of which US$19.5 million has been proposed for IFC financing (US$10 million A loan, US$7 million B loan and US$2.5 million C loan).
Location of project and Description of site
The project will expand and modernize three of Friar’s three meat-processing plants in Santa Fe Province, Reconquista plant, Santa Fe plant and Carcaraña plant, as well as its distribution operations in the province.
Description of Company and Purpose of Project
Friar S.A. is the third largest beef exporter and a pork meat-processor in Argentina. Its industrial activities are vertically integrated, from slaughtering to the production of branded consumer meat products. This project consists of an expansion and modernization of its facilities and distribution operations. It will ultimately benefit local farmers as well as increase the quality of meat produced for Argentine consumers. The project also supports the Argentine government’s commitment to improving the hygenic standards of meat processing in the country.
Environmental Category and Issues
This is a category B project according to IFC''s environmental review procedures. Environmental, health and safety issues associated with this project include air emissions, liquid effluent, waste disposal, use of refrigerants, fire prevention and emergency response, and employee health and safety. The project sponsor will provide information to demonstrate that the Project is being designed to meet the applicable World Bank guidelines. IFC will monitor Friar''s environmental, health and safety performance during the life of the project by evaluating monitoring reports submitted annually to IFC by Friar, and by conducting periodic site reviews during project supervision.
The is from the Public Information Center.
| Date SPI sent to PIC | November 20, 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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