Orion IP & Free Zone (IDBI-12362-02)

Countries
  • El Salvador
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest (IDBI)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Nov 1, 2021
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
American Industrial Park S.A. de C.V.
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • Energy
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Sep 29, 2021

Disclosed by Bank Sep 3, 2021


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Project Description

This transaction consists of a long-term corporate loan for up to US$25 million to American Industrial Park S.A. de C.V. (AIP). AIP, a current client of IDB Invest, is one of the leading companies in El Salvador in the construction and administration of free trade zones and industrial parks, with more than 25 years of experience in the market. It currently manages more than 200,000 m2 of industrial space, housing 26 companies that employ more than 12,000 people. Part of AIP's business line is power generation, which it uses both for self-consumption and for sale to the domestic grid. This ensures that AIP conducts a cleaner operation for both its own and its customers' activities, contributing to the diversification of the energy matrix in El Salvador.

 

The proposed financing involves two main objectives: the first consists of the construction of new industrial infrastructure in the Group's new Orion Industrial Park as a free trade zone, to attract and expand Foreign Direct Investment (FDI) in the country. The second objective is to install solar panels on the roofs of the industrial park to meet internal demand, generating at least 7,750 MW/h of clean energy per year.

Investment Description
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - American Industrial Park S.A. de C.V. Contractor Infrastructure

Contact Information

EMAIL: requestinformation@idbinvest.org

PHONE: +1(202)-566-4566

ADDRESS: 1350 New York Ave NW, Washington, DC 20005

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request

ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IDB Invest)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IDB Invest is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).