Summary of Proposed Investment
Project Number
8929
Company Name
AGRO GUAYABITO SA
Date SPI Disclosed
May 15, 1998
Country
Peru
Industry
Agribusiness and Forestry
Status
Completed
Sector
Fruit and Vegetable Preservation or Processing (Canning, Freezing, Drying, Jams, etc.)
Department
Gbl Ind, Manufact, Agribus & Services
Environmental Category
B - Limited
Previous Events
Approved : Jun 30, 1998
Signed : Dec 4, 1998
Invested : Dec 23, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Peru-AgroGuayabito, S.A. |
| Region | Latin America and Caribbean |
| Sector |
Projected Board DateJune 25, 1998
Company NameAgroGuayabito, S.A.
Technical Partner and/or Major Shareholders
Labarthe Brothers; Lima, Peru
Project Cost Including Proposed IFC Investment
Project Cost: US$30 million
IFC Loan: US$7 million
IFC Equity: US$1 million
Location of Project and Description of Site
The project site is located approximately 200km north of Lima, east of the Pativilca River. The site is on never cultivated desert lands contiguous to established coastal river valleys.
Description of Company and Purpose of Project
(include IFC’s Role and Development Impact)
AgroGuayabito was established in 1993 for developing integrated agribuisness operations in poultry, asparagus and tomato production and processing. The project will: expand the Company''s asparagus and industrial-use tomato production; develop sugar cane production; develop infrastructure and irrigation canals; and improve social conditions. IFC''s role in this project will support a key Peruvian Government program to reform the agricultural sector as well as sending a positive signal to the investment community regarding Peru''s status as a secure country for agricultural investments. The project''s main development impacts are: significant (over 1,000) rural employment, entreprenueurial development, agribusiness development, and environmental safeguards.
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 performance standards, guidelines or design criteria. The following potential environmental, health and safety impacts of the project were analyzed: land use in agriculture expansion areas and presence of environmentally-sensitive areas and critical natural habitat; agricultural practices and pesticide use, including impacts on soil, water air and human health; air emissions, wastewater effluents and solid wastes from asparagus and tomato processing facilities; irrigation water source and impacts on groundwater levels; storage and handling of agricultural chemicals; and general worker health and safety. Agricultural expansion is occurring on previously unused desert land, and no environmentally-sensitive or protected areas will be affected. The company has implemented a comprehensive integrated pest management plan and has its own entomological laboratory which is involved in identifying and using natural insect predators to control pests in its crops. The company is also pioneering the use of drip and microspray irrigation to conserve water supplies. The company’s processing operations will be operated to minimize effluents and ensure that they meet the applicable World Bank Group guidelines.
The is from the Infoshop
| Date SPI sent to InfoShop | May 15, 1998 |
“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) 974-4384
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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