Amaggi Sustainable Cotton (IFC-43740)

  • Brazil
Geographic location where the impacts of the investment may be experienced.
Specific Location
State of Mato Grosso
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)
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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 25, 2021
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.
  • Agriculture and Forestry
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Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 180.00 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)
$ 180.00 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 May 28, 2021

Disclosed by Bank Mar 22, 2021

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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 includes an IFC investment of up to US$180 million A/B/MCPP Loan package. The financing will support its three-year Amaggi cotton investment plan comprising : (i) conversion of existing corn farmland into cotton production across three farms in Mato Grosso; (ii) construction of cotton processing units to serve the increased cotton production volumes and financing of the three operating cotton production facilities; (iii) investments in logistics assets for the cotton expansion and agricultural inputs for use in the cotton farms; and (iv) crop protection/treatment inputs for productivity improvements in existing cotton farms (“The Project”).

Specifically, the proposed project will: (i) expand the existing cotton plantation area from 65,000 ha to 103,000 ha distributed among the Itamarati (69%), Tucunaré (26%) and Agua Quente (5%) farms by further replacing corn, which is currently planted as a second crop, by cotton. Thus, as part of this expansion, the company is improving soil conditions, acquiring specific equipment for cotton planting and harvesting (i. e., trucks, sprayers, medium tractors, forklifts, etc.), and improving structures for cotton processing; and (ii) construct a new 147,600 bales/yr cotton processing plant, Algodoeira Itamarati, in a 9,600 m² area within Amaggi’s Itamarati farm. This plant anticipates producing approximately (a) 32,000 tons/year of cotton plumes, (b) 40,000 tons/year of cottonseed, and (c) 800 tons/year of fibrilha.

The 85,315 ha Itamarati farm is in Campo Novo do Parecis, MT, its closest communities are the municipalities of Tangará da Serra (60 km) and Campo Novo do Parecis (73 km) and separated by the river Utiaritiit. It is also located 22km North-West distant from the Indigenous People (IP) Land Paresi and 14km distance South-West from IP Land and Protected area Rio Formoso. The 44,583 ha Tucunare farm is located in the municipality of Sapezal, its closest community is the city of Sapezal at 12 km and it is also located 56km West distant from the Utiariti IP Land, 48km South distant from the Pareci IP Land, and 58km West distant from the Nambiquara IP land. The 87,067 ha Tanguro farm, located in the rural area of the municipality of Querência/MT, its closest community is the city of Querencia at 33 km and is also distant 28km North-West from Xingu IP land and 42 km West from Pequizal do Naruvôtu IP land.  The 20,474 ha Agua Quente farm is in the municipality of Sapezal, its closest community is the city of Sapezal at 30 km; it is also distant 22km East from the Utiariti IP land and 17km South from the Pareci IP Land.                                                  

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - ANDRE MAGGI PARTICIPACOES S/A (Grupo Amaggi) Client Agriculture and Forestry

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