Ingenio Montelimar (IFC-32253)

  • Nicaragua
Geographic location where the impacts of the investment may be experienced.
Specific Location
San Rafael del Sur
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
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
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
Jun 27, 2013
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.
Consorcio Naviero de Nicaragua S.A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 15.00 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)
$ 38.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Dec 13, 2018

Disclosed by Bank Mar 6, 2013

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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 bank, this Project involves an increase in CONSORCIO NAVIERO NICARAGUENSE SA (Navinic)'s annual sugar production at Ingenio Montelimar - owned by NAVINIC since 2000 and the smallest of the four active sugar mills in Nicaragua, from 33kton to 67kton. The Project includes:
i) the acquisition of 1,628 ha of land to increase own planted area to 5,262 ha,
ii) investment in irrigation and other infrastructure in the field,
iii) increasing milling capacity to 4,100 tcd,
iv) acquiring additional harvesting and transportation equipment and
iv) funding incremental working capital needs.

The increased scale of operations will allow for the installation of a high pressure boiler and supplemental cogeneration plant in 2-3 years with resulting increases in the sale of biomass-generated electric energy to the national grid.


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.

CONSORCIO NAVIERO NICARAGUENSE SA (NAVINIC)'s majority shareholders and Project sponsors are the Fernandez Holmann and Morales families.

CONSORCIO NAVIERO NICARAGUENSE SA (NAVINIC): owns the smallest of four sugar mills in Nicaragua (Montelimar mill), with a milling capacity of 2,300 tons of sugar cane per day ("tcd").


The IFC's Compliance Advisor Ombudsman has received a complaint from sugarcane workers at another Nicaraguan sugar company regarding the epidemic of chronic kidney disease that affects many agricultural workers along the Pacific coast of Central America.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Corporacion Montelimar S.A. Client -

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.

San Rafael del Sur City Hall
Located on the West side
of the San Rafael del Sur Central Park
Tel: +505 2293 3284; +505 2293-3542

San Rafael del Sur Public Library
Located on the Southern side
of the San Rafael del Sur Central Park
Tel: +505 2293 3284

Ingenio Montelimar
Km 62 Carretera a Montelimar
San Rafael del Sur, Nicaragua
Tel: (505) 2269-6136
Fax: (505) 2269-6546

Ingenio Montelimar Managua Offices
Optica Nicaraguense, 3c al Este
Bolonia, Managua
Tel: + 505 2266-9776

Oscar Gutierrez:
Gerente Administrativo

Jose Luis Lopez:
Coordinador Gestion de la Calidad y Relaciones Publicas
NAVINIC-Ingenio Montelimar
Telefonos: (505)2269-6516 | (505)2269-6136
Fax : (505)2269-6546


The company's previous community engagement activities have been somewhat informal and ad hoc. Going forward they will formalize the process and take the actions outlined above and in the ESAP to develop and implement a Stakeholder Engagement Plan as well as engagement with households that are affected by land acquisition, and those households on their farms they have been helping obtain title. As per the Environmental and Social Action Plan, the company will develop a community grievance mechanism that may be used by the community to express concerns about the company's operations and impacts and also serve as a communications channel for consumers to advise the company of concerns about company products.


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

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How it works