Summary of Proposed Investment
Project Number
9038
Company Name
Implementos Agricolas Centroamericanos, SA de CV
Date SPI Disclosed
Aug 6, 1998
Country
El Salvador
Industry
Manufacturing
Status
Completed
Sector
Other Miscellaneous Fabricated Metal Products (Including Non-Wood Housing Products, Tanks, Cutlery, Kitchen Utensils and Handtools, etc.)
Department
Regional Industry MAS LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Nov 20, 1998
Signed : Feb 3, 1999
Invested : Feb 19, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name | El Salvador. SEF-Imacasa II |
| Region | Latin America and Caribbean |
| Sector |
Projected Board DateSeptember 14, 1998
Company NameImplementos Agricolas Centroamericanos, S.A. de C.V.
Technical Partner and/or Major Shareholders
The company is owned by over 20 shareholders, mostly Salvadorans.
Project Cost Including proposed IFC investment
US$1.5 million. Of this amount, IFC is financing US$450,000, consisting of US$250,000 in an A-Loan and US$200,000 in equity.
Location of project and Description of site
The project is located in the Santa Lucia industrial park, on the outskirts of the city of Santa Ana. The site consists of 10,000 square meters of covered industrial area.
Description of Company and Purpose of Project
Imacasa is among the largest manufacturers of agricultural hand tools in Central America, with leading market shares for products such as machetes, axes, picks and shovels. The project is designed to increase production capacity and to expand the Company''s product lines to consolidate its sales in new markets. The project also includes the sale of Imacasa shares, including a portion to be sold to Imacasa employees and a portion to be sold in the Salvadoran stock market.
Environmental Category and Issues
This is a category B project according to IFC''s environmental review procedure: Environmental, social, occupational health and safety issues associated with this project include: liquid effluent treatment, solid waste handling and disposal, air emissions, fire prevention and emergency response, and employee protection from heat, noise, dust and hazardous chemicals. Process water is recycled. Domestic sewage from the workforce goes into the city sewage collection system. The company has implemented a wet sand paper process for the sharpening of tools, which has eliminated the production of metal particles. Domestic solid waste is collected and disposed of according to local regulations. Electrical power is supplied by the national grid. Imacasa uses two stand-by generators used in emergencies. Currently, one of the generators is used approximately 5 hours per day. The diesel fuel is stored on site in two tanks one of 9,000 and 5,000 gallons. The tanks have adequate secondary containment in the event of spills. Employees are required to wear hearing protection devices in areas of high noise level. Emergency response equipment, including fire extinguishers, are located in strategic areas. The company has a task force assigned to provide safety training and emergency response capacity.
The is from the InfoShop.
| Date SPI sent to InfoShop | August 6, 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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