Conaprole 2019 (IFC-42477)

Countries
  • Uruguay
Where the impacts of the investment may be experienced.
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
COOPERATIVA NACIONAL DE PRODUCTORES DE LECHE
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
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)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 29, 2019

Disclosed by Bank May 20, 2019


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Project Description

Cooperativa Nacional de Productores de Leche (the “Cooperative” or “Conaprole”), an IFC client since 2002, is a leading Uruguayan dairy producer and exporter, as well as one of the lowest cost producers in the world. The Cooperative operates 8 processing plants and processes 1.4 billion liters of milk per annum sourced from more than 1,900 farmers. The industrial plants are: (i) Florida plant # 7, (ii) Villa Rodriguez (VR) plant #8, San Ramon (SR) # 9, San Carlos (SC) # 10, Ricon del Pino (RDP) #11, Rivera plant #14, Mercedes #16, and Montevideo plant, plant # 21. Conaprole has requested IFC to extend an A Loan of up to US$60 MM to finance: i) the construction of a spray-dryer tower to produce infant formula for export at Villa Rodriguez plant; ii) the replacement of current small and inefficient boiler system with a new more efficient one (allowing for GHG reduction); and iii) the upgrade of waste water treatment facilities at all their industrial sites (the “Project”).The new Project to produce infant formula follows Conaprole’s strategic view of adding value to its exports as the formula will be sold to multinational companies who will then sell it in Latin America under their own brands. This is one more move in the direction of the Cooperative’s mission, which is not only to absorb its member-farmers’ milk production but also to maximize returns for them.

Investment Description
  • International Finance Corporation (IFC)
Contact Information

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