Orion II (IDBI-14979-01)

Regions
  • Latin America and Caribbean
Geographic location where the impacts of the investment may be experienced.
Countries
  • El Salvador
Geographic location where the impacts of the investment may be experienced.
Specific Location
Ciudad Arce, Departamento de La Libertad
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 25, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
American Industrial Park S.A. de C.V.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ IDBI website

Updated in EWS Sep 16, 2024

Disclosed by Bank Sep 12, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the IDB Invest, this transaction consists of a long-term corporate loan of up to US$50 million for American Industrial Park S.A. de C.V. ("AIP" or the "Company"). AIP is a client of IDB Invest and a leader in El Salvador in the construction and management of free trade zones and industrial parks, with nearly 30 years of experience. It currently manages more than 200,000 m2 of industrial space, mainly housing international companies that employ over 12,000 people. AIP also participates in renewable energy generation through its photovoltaic installations, which it uses for self-consumption in its parks as well as to supply the national grid, ensuring clean operations in its activities and contributing to the diversification of El Salvador's energy matrix.

The proposed financing contemplates three main objectives: (i) the development of phase II of the Orion Industrial Park expansion, which includes the construction of new industrial buildings and the expansion of existing ones; (ii) the modernization of AIP's current facilities to attract new industries, as well as the development of a new free trade zone adjacent to El Salvador's International Airport, to facilitate the development of logistics, storage, and air maintenance activities; and (iii) the installation of new photovoltaic capacity on the new industrial roofs for renewable energy generation and the use of related batteries for energy storage. IDB Invest will also be supporting AIP with advisory services to obtain EDGE certification in sustainable construction.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Grupo Aristos, the parent company, provides "solutions in real estate, energy, investments, and industry", according to their website.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Grupo Aristos SA de CV Parent Company Industry and Trade

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Parent Company - Grupo Aristos S.A. de C.V.:

Email: info@aristos.com.sv 
Address: Carretera Panamericana 36 y medio La Libertad El Salvador
Website: https://grupoaristos.com/ 

IDB Invest general contacts:

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).

How it works

How it works