PLASTECH (IDBI-12397-01)

Countries
  • Haiti
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
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
U
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 13, 2018
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
Plastech Solutions S.A. and Les Enterprises Haiti Solutions S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Energy
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)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Campaign Documents
Primary Source

Original disclosure @ IDBI website

Updated in EWS Nov 23, 2018


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Project Description

According to the bank, the financing seeks to support the growth and competitiveness of Les Entreprises Plastech Haiti S.A. and Plastech Solutions S.A. (the "Companies", "Plastech" or the "Borrowers"), a leading company in the plastic industry in Haiti. Plastech has embarked on a US$10 million multi-year investment plan (2018-2020) that includes: i) a recycling project to use recycled material to produce different products (e.g. PET from used bottles; ii) solar power generator and distribution equipment including an LNG component to reduce the company's carbon print and energy costs, one of the main hurdles to Plastech's growth; iii) industrial machinery and equipment with more efficient technology; iv) purchase of equipment for excess heat recovery system; and iv) debt refinancing. IDB Invest financing will have a 10-year tenor including 12 months of grace period.

Investment Description
  • IDB Invest
Private Actors
Contact Information

Client Contact Name:
Maulik Radia

Title:
CEO

Phone number:
+50937014433

email address:
maulikradia@yahoo.com