Axion (IFC-36221)

  • Argentina
Geographic location where the impacts of the investment may be experienced.
Specific Location
Campana, Parana River
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
Apr 1, 2016
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.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
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 Aug 11, 2017

Disclosed by Bank Feb 24, 2016

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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.
The proposed project, which will be built within the boundaries of the refinery, aims to expand the refinery’s crude processing capacity (increase diesel production in approximately 1,200,000 m3/year and gasoline in 650,000 m3/year) as well as reaching a higher conversion (i.e., extracting more valuable products out of a single crude barrel); and producing ultra-low sulfur diesel and gasoline. Thus, it will increase the throughput from 90,000 BPD to 120,000 BPD by installing an additional delayed coker and increasing the capacity of some of the operation units. In addition, Axion will install (a) combined naphtha and diesel hydrotreaters to treat the naphtha and distillate streams from the expanded coker, and catalytic cracker units, and produce 10 ppm sulfur gasoline and diesel; (b) a sulfur recovery unit along with its corresponding sour water stripper; (c) sour gas scrubbers, for the existing and new refinery fuel gas streams; and (d) an amine regeneration system. As part of the proposed project, Axion will also (a) increase its storage facilities and upgrade the loading capacity to accommodate the additional products and intermediates volumes; (b) increase crude reception and product delivery facilities for additional volume; (c) increase the external electrical supply by adding an additional 60 MVA to the existing internal/external electrical power supply; (d) install a second cooling water tower to complement the existing cooling water system; (e) upgrade the effluent treatment facilities; and (f) increase hydrogen production. In addition, it will also install a new flare system and associated equipment to handle additional loads to the flare from the new units; a new acid flare which collects the discharges from the fuel gas system complex will be attached to the main flare. A new air system will be also built, replacing the existing one.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

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.
ACCOUNTABILITY MECHANISM OF IFC/MIGA 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