Summary of Proposed Investment
8427
Senegal-Tanneries S.A.
Oct 22, 1997
Senegal
Manufacturing
Completed
Shoes and Leather Products
Regional Industry - MAS Africa
B - Limited
Approved : Dec 23, 1997
Signed : Jan 27, 1998
Invested : Jun 24, 1998
Project Description
Summary Of Project Information (SPI)
Project Name SENEGAL - Senegal Tanneries S.A. (SENTA S.A.)
Region Sub Saharan Africa
Sector Manufacturing
Project No 008427
Projected Board November 22, 1997
Date
Company Name SENTA S.A.
Technical Partner and/or Major Shareholders
Mr. Livio Banfi, 48, Italian, is Chairman and Managing Director, and has been involved in the leather business since 1979 with 20-years experience in hide processing and trading. The main shareholders are Livio Banfi, Abdou Thiam, Paul Bach and Société Coloniale, each with 20% of the shares.
Project Cost Including Proposed IFC Investment
Overall project is estimated at US$1,951,717. IFC has been asked to provide a loan of US$400,000 representing 20% of the project cost.
Location of Project and Description of Site
The project, consisting in a tannery, is built on a 1,500 sq.m. plot in the industrial area of Dakar, known as the Free Export Zone. The project site is about 20 kms from the center of the city and is well served by roads and transport. The site previously hosted an aluminum processing factory.
Description of Company and Purpose of Project
The project is designed to collect fresh salted skins and process them into wet blue leather. Production will be solely for export to European markets.
IFC’s contribution to the project will be to provide affordable long-term financing to a Company that would otherwise have to resort to expensive bank overdrafts, and support a Company that performs value added-work.
The project will have considerable development impact. It will reduce the export of raw skins and hides from Senegal. These exports will generate foreign exchange, and it will contribute to the growth of the herd population in this Sahelian country.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure. The key environmental and health and safety issues include effluent treatment and discharge, solid waste and sludge management and disposal, hazardous materials storage and handling, and workplace health and safety. SENTA will upgrade its existing primary effluent treatment plant with a new biological treatment process so that, within one year of the loan disbursement, the resulting effluent discharge will meet World Bank guidelines. Solid wastes and treatment plant sludges are disposed in an approved off-site landfill. Hazardous chemicals are segregated and stored in separate buildings with adequate spill containment. Adequate fire protection features and procedures are provided, and the installation complies with World Bank health and safety requirements.
IFC will monitor the sponsor’s ongoing compliance with World Bank policies, and environmental, health and safety guidelines during the life of the project by evaluating monitoring reports submitted annually to IFC. In addition, SENTA will provide IFC with the appropriate evidence of compliance with the one year schedule to upgrade its effluent treatment plant.
The Environmental Review Summary is available from the Public Information Center.
Date SPI sent to PIC October 22, 1997
“This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporation’s Board of Directors. It is provided for the purpose of enhancing the transparency of IFC’s activities and should not be construed as presuming the outcome of IFC Board Consideration.”
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 974-4348
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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