Votorantim Cimentos Decarb (IFC-47515)

Countries
  • Brazil
Geographic location where the impacts of the investment may be experienced.
Specific Location
City of Salto, São Paulo State
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
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."
Borrower
Votorantim Cimentos S A.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 150.00 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)
$ 150.00 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 25, 2023

Disclosed by Bank May 21, 2023

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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 investment is a US$150 million A Loan to Votorantim Cimentos S.A. (“Votorantim Cimentos” “VC” “Parent Company” or the “Company”), one of the largest Brazilian producers of cement and the subsidiaries of Votorantim S.A. (the “Holding”). The proposed loan consists of CAPEX for enhancing the cement co-processing capacity of Salto’s Plant (SP), in Sao Paulo State by upgrade of kiln W4 and construction of new residue derived fuel (RDF) facility for refining solid non-hazardous and hazardous waste with the install capacity of 120,000 tons/year. Currently, the Salto Plant substitutes fossil fuels with approximately 34% of alternative fuels (using biomass - wood chips, used tires, residue derived fuel (RDF) and hazardous RDF (HRDF)). After the upgrade RDF, HRDF and tires will be used. The project aims to approximately double use of alternative waste fuels after the upgrade of Kiln W4. The upgrade of the kiln W4 will include increased calciner residence time, new raw mill conversion of electro filters to bag filters and application of Selective Non-Catalytic Reduction (SNCR) which will be used to control NOx air emissions.  The Salto Plant is located in the municipality of Salto de Pirapora on road João Guimarães SP 104 km 4.5 in a rural area of Sao Paulo State. The plant has been in operation since 1977 and produces cement, aggregates and agricultural lime. The total site comprises 242 km2 and includes two limestone quarries, Ponte Alta (and Salto. The site is separated by the road. Limestone is transported by a closed conveyor belt from the Ponte Alta quarry crossing the road by overhead and with trucks on internal roads from the Salto quarry. The nearest town is Piraporinha, 3.2 km to the south and a small community Alta Vista, 1.5 km to the west.

Investment Description
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Contact Information
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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/

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How it works