Sao Manoel (IFC-40264)

Countries
  • Brazil
Where the impacts of the investment may be experienced.
Specific Location
São Manoel, São Paulo
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
Proposed
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.
Borrower
USINA ACUCAREIRA S. MANOEL S.A
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • 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)
$ 42.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 42.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Apr 26, 2018

Disclosed by Bank Apr 11, 2018


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Project Description

According to the bank, the proposed investment consists of a US$42.0 million A/B loan that will finance (i) the climate friendly upgrade of existing equipment to improve energy efficiency; (ii) capex to renew around 5,600 hectares, expand 4,000 hectares of sugarcane and implement agri-smart techniques to increase the lifespan and the productivity of the plantations; (iv) investments in social programs; and (v) investments to upgrade and replace existing machinery.

Usina Açucareira S. Manoel S/A (“Sao Manoel” or the “Company”) is a medium-size sugar and ethanol producer in Brazil, with just over 2,100 direct employees. Founded in 1949, Sao Manoel is located in the Municipality of Sao Manuel, in the central region of Sao Paulo State. The sugar cane plantations are located within five neighboring municipalities, covering approximately 46,500 hectares, typically located within 23 km from the mill. The Sao Manoel facility can crush 4.3 million tons of sugarcane a year and, as of FY16/17, produced 225,000 tons of sugar, 128,000 m3 of ethanol and 3,750 tons of inactive dry yeast.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
Contact Information

The company uses a number of channels to communicate with external stakeholders. Through the company’s website, www.saomanoel.com.br/contato, e-mails can be sent to various departments.

ACCOUNTABILITY MECHANISM OF IFC

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/