Summary of Proposed Investment
Project Number
9321
Company Name
PURAS DO BRASIL SOCIEDADE ANONIMA
Date SPI Disclosed
Feb 2, 1999
Country
Brazil
Industry
Tourism, Retail and Property
Status
Completed
Sector
Other (Including Restaurants, Amusement Parks, etc.)
Department
Regional Industry MAS LAC & EUR
Environmental Category
B - Limited
Previous Events
Approved : Aug 5, 1999
Signed : Sep 21, 1999
Invested : Nov 16, 1999
Project Description
Summary Of Project Information (SPI)
| Project Name: | Brazil - Puras |
Region:Latin America and Caribbean
Sector:Hotels and Tourism
Project No:009321
Projected Board Date:April 1, 1999
Company Name:Puras do Brasil Sociedade Anônima
Technical Partner and/or Major Shareholders
The company is wholly-owned by Mr. Hermes Gazzola and his family through a holding company, Puras Administradora de Negócios e Participações Ltda.
Project Cost Including proposed IFC investment
Project cost is estimated at US$48 million. IFC''s proposed investment would consist of a senior loan of US$13 million and a convertible loan in the amount of US$2 million.
Location of project and Description of site
Most new cafeterias/restaurants will be opened at industrial firms in the Northeast and North of the country. Puras'' goal is to seek contracts serving meals to large numbers of factory workers.
Cafeterias are generally located in buildings near the factories.
Description of Company and Purpose of Project
The company at present operates 310 restaurants in 110 cities throughout Brazil. The project will allow it to continue to serve its existing clients who are investing in the North and Northeast of the country, and to participate in the growth of the regions.
IFC''s financing will enable the company to achieve economies of scale and become more efficient, thus lowering cost to the client. It will allow the company to bring good nutrition to workers in the less developed regions of the country, contributing to higher worker productivity and better health. It is expected that 6,000 jobs will be created over three years, and these workers trained in good food handling and hygiene practices.
Environmental Category and Issues
This is a category B project according to IFC''s environmental and social review procedure. Key environmental, social and occupational health and safety issues associated with the project include: solid and liquid waste disposal, CFC-free cold storage equipment, hygiene and best management practices for handling of food, employee safety training and emergency response, and fire safety. The sponsor has presented plans to address these issues and demonstrated that the proposed project will comply with applicable governmental and World Bank requirements. Solid waste generated at the sites is of domestic origin and is disposed according to local regulations. New cold storage equipment acquired either by the client or by Puras will be compliant with CFC-free requirements. Puras'' quality control procedures are in compliance with all local and federal laws relating to food safety and prevention of food borne illnesses. The restaurants are managed by nutritionists who are in charge of food safety and of collecting samples for microbiological testing. Potable water is analyzed at each restaurant on a semi-annual basis under the World Health Organization guidelines for drinking water. Puras'' training programs are directed by an occupational health and safety engineer. Puras provides its employees with uniforms that includes hair nets, gloves, and coats. During cleaning and preparation of food, every employee is required to wear this equipment. Puras'' assessment of a potential cafeteria involves the site location, equipment layout and safety, and environmental conditions. Recommendations for improvement are provided to the client.
| Host country location of environmental documents: | 1-Puras do Brasil, Av. Independencia 1299,Porto Alegre, RS. 2-Puras do Brasil, Rua Principal 209, Manaus, AM. 3-IFC, Rua Oswaldo Cruz no.1, Fortaleza, CE. 4-Biblioteca Pública de Manaus, Rua Barroso 57, Centro, Manaus, AM. |
Date SPI sent to InfoShop:February 2, 1999
“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
Related ESRS/ERS
