Axion (IFC-36221)

Countries
  • Argentina
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
Approved
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
Apr 1, 2016
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
AXION ENERGY ARGENTINA 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 Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. 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
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
  • International Finance Corporation (IFC)
Contact Information
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 CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/