Summary of Proposed Investment
Project Number
7959
Company Name
Wilex Cocoa
Date SPI Disclosed
Dec 26, 1996
Country
Samoa
Industry
Agribusiness and Forestry
Status
Completed
Sector
Other Food
Department
Regional Industry - MAS Asia & Pac
Environmental Category
FI
Previous Events
Approved : Feb 23, 1995
Invested : May 22, 1997
Project Description
Summary Of Project Information (SPI)
| Project Name | Western Samoa - Wilex Cocoa |
RegionAsia
Sector
Project No007959
Projected Board DateJanuary 30, 1997
Company NameWilex Cocoa Pty.
Technical Partner and/or Major Shareholders
The primary sponsor is Mr. Eddie Wilson, Managing Director of Wilex Cocoa and Coconut Products Ltd. The company was incorporated in 1986 and started business primarily as a trading house exporting taro and other traditional Samoan foodstuffs and household items to Polynesian communities in Auckland, Sydney and Los Angeles.
Project Cost Including proposed IFC investment
The total project cost is approximately US$ 650,000. IFC has proposed making a quasi-equity investment of approximately US$327,000 through PIIF, the Pacific Islands Investment Facility. This investment is proposed to be in 100% comulative redeemable preference shares.
Location of project and Description of site
Wilex’s project will be located in Moata’a, Apia (1 km from Apia port).
Description of Company and Purpose of Project
The sponsor, Wilex Cocoa and Coconut Products Ltd (Wilex) is an Apia, Western Samoa based producer, distributor and exporter of pounded kava and a crude form of cocoa liquor. The project involves the expansion of Wilex’s existing factory to accommodate the expanded production activities, the purchase and installation of utilities and further storage capacity s involved.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized standards, guidelines or design criteria.
The is from the Public Information Center.
| Date SPI sent to PIC | December 26, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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