Summary of Proposed Investment
Project Number
8791
Company Name
Metanol de Oriente Metor S.A.
Date SPI Disclosed
Aug 29, 2006
Country
Venezuela, Republica Bolivariana de
Industry
Manufacturing
Projected Board Date
Oct 19, 2006
Status
Completed
Sector
Petrochemical
Department
Regional Industry MAS LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Nov 21, 2006
Signed : Dec 22, 2006
Invested : Jan 24, 2008
Project Description
Metanol de Oriente S.A. (Metor or the company), a Venezuelan company established in 1992, is a leading Latin American producer of methanol with a nameplate capacity of about 750,000 metric tons per year (mtpa). The company exports about 80% of its output to the U.S. and Europe.
Metor, an IFC client and partner since 1993, has requested an IFC A loan of up to $50 million to help finance the expansion of its existing plant, located at the Jose Petrochemical Complex in the State of Anzoategui, which would increase its production capacity to up to about 1.6 million mtpa. The feedstock for the project would be provided by Petroleos de Venezuela S.A. (PDVSA), the Venezuelan state energy company. The project’s output would be sold through off-take contracts with its three major shareholders (see Sponsor section). The project is expected to be completed during the last half of 2009.
Metor, an IFC client and partner since 1993, has requested an IFC A loan of up to $50 million to help finance the expansion of its existing plant, located at the Jose Petrochemical Complex in the State of Anzoategui, which would increase its production capacity to up to about 1.6 million mtpa. The feedstock for the project would be provided by Petroleos de Venezuela S.A. (PDVSA), the Venezuelan state energy company. The project’s output would be sold through off-take contracts with its three major shareholders (see Sponsor section). The project is expected to be completed during the last half of 2009.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Metanol De Oriente, Metor S.A.
Edificio Pequiven, Complejo Petroquímico
General José Antonio Anzoátegui,
Jose, Edo. Anzoátegui
Venezuela – Apdo. Postal 5077.
Location of Environmental Documents accessible to locally affected communities: Local Public Library in Barcelona.
Edificio Pequiven, Complejo Petroquímico
General José Antonio Anzoátegui,
Jose, Edo. Anzoátegui
Venezuela – Apdo. Postal 5077.
Location of Environmental Documents accessible to locally affected communities: Local Public Library in Barcelona.
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster